Giffen good. 6) ” If PPC curve will be the straight downward sloping line‚ marginal opportunity cost is constant” – prove the above statement by explaining with an illustrated schedule and a diagram 7) What do you mean MRS? What happens to MRS when consumer moves downwards along the indifference curve? Give reason 8) Draw the demand curve with a schedule and explain the law of demand. 9) State and explain the properties of indifference curve [3] [3] [3] [3] [1] [1] [1] [1] [1] Max Marks: 100 Page
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“DECISION-MAKING STYLES OF GENERATION Y CONSUMERS IN THE PURCHASE OF FASHION APPAREL IN KEMPTON PARK” LAWRENCE MANDHLAZI M Tech: Marketing Dissertation submitted in fulfilment of the requirements for the degree of Magister Technologiae in the Department of Marketing‚ Faculty of Management Sciences‚ Vaal University of Technology. Supervisor: Prof. M. Dhurup The financial assistance of the Central Research Committee of the Vaal University of Technology towards this research is hereby acknowledged
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compromised in a number of ways (hurricanes‚ citrus greening‚ etc.)‚ and also demand is decreasing. One of the biggest problems is the change in consumer tastes. People are choosing to buy other‚ similar products because they are healthier according to the article. The title of the article even reads “Orange-Juice Market Is Getting Squeezed by Changing Consumer Tastes”. The article has more detailed explanations of the problems‚ but these are the main overall problems the orange-juice market has been
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the proper combination of a limited number of attributes which influences consumer’s mind the most and affects the buying behavior. Conjoint Analysis is done by showing the respondents a controlled set of potential products and analyze how the consumers made their preferences or how they rank the different attributes and then marketing researchers may be able to determine the values of each attributes. The values can be used by the company to develop new products‚ improve old ones and generate revenue
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of consumers and a positive change in terms of consumer taste and preference. A good example is DVD’s. In this case‚ let our original price of DVD’s be 40 and our original quantity demanded of DVD’s be 20. At a price of 50 a shift to the right causes the quantity demanded to increase from D1 to D2.i.e from 20 to 40 A shift to the left (opposite direction) of the demand curve may be caused by the following factors; a) Reduction of consumer income. In our example‚ if the income of consumers reduces
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Consumer Behavior Homework # 2 Zhakupbekova Zhazira During the recession there have been significant changes in consumer behavior. Most of the customers have switched from higher-priced brands to cheaper ones. According to McKinsey research‚ most of consumers who have changed their choice and now buy less expensive products said that their experience was better that it was expected. For example 48 percent of those people who have tried cheaper cold and allergy medicines were satisfied with the
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Classification of Products Consumer Products Business Products (Use by household consumers for nonbusiness purpose) Convenience Goods: Frequent purchases with minimum efforts‚ readily accessible when consumer demands arises.e.g. Soaps‚ Newspapers
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a firm can allocate the given advertising budget between different media of advertisement. 4. What kind of relationship would you postulate between short-run and long-run average cost curves when these are not U-shaped as suggested by the modern theories? 5. How do demand forecasting methods for new products vary from those for established products? AMITY SCHOOL OF DISTANCE LEARNING Post Box No. 503‚ Sector-44 Noida – 201303 Managerial Economics Assignment B Marks 10 Answer
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necessities. Some products that initially have a low degree of necessity are habit forming and can become "necessities" to some consumers. Proportion of income required by the item: products requiring a larger portion of the consumer’s income tend to have greater elasticity. • Time period considered: elasticity tends to be greater over the long run because consumers have more time to adjust their behavoir to price changes. Income elasticity of demand measure the degree of responsiveness
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purchase in a defined time period‚ ceteris paribus. a.a directb.noc.an inversed.independent ANS C PTS 1 DIF E TOP Law of demand TYP RE 3. The law of demand refers to the a.inverse relationship between the price of a good and the willingness of consumers to buy it.b.price increase that results from an increase in demand for a good of limited supply.c.inverse relationship between the price of a good and the quantity offered for sale.d.increase in the quantity of a good available when its price increases
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