Answer:
c. dairy farming
Explanation:
Free entry can be defined as the situation in which business firms such as sellers of goods or service providers can enter into the market freely and start selling to consumers.
This ultimately implies that, there are no legal barriers or just a minimum barrier, if any for new firms starting the same business as others.
Hence, dairy farming is the industry which is most likely to exhibit the characteristic of free entry.
A diary farming is one of such industries that allows new agents to come into the business without any barrier because it simply involves the production of essential commodities such as milk, beef etc which are usually required on a large scale in an economy.
Answer:
Explanation:
exponential smoothing alpha = 0.5
formula = Previous demand x Alpha + previous forecast x (1 - alpha)
26 32 40 27 30
26 26 29 34.5 30.75
week 2 forecast
26x0.5 + 26x0.5 = 26.
week 3 forecast
32x0.5 + 26x0.5 = 29
use the same procedure for week 4 and week 5
week 6
30x0.5 + 30.75x0.5 = 30.375
Demand Forecast for week 6 = 30.38
Answer:
The answer is "5.4% and 15,23,500".
Explanation:
Calculating the capital cost:
Maximum amount to be spent
The economics concepts of income effect and substitution effect express changes in the market and how these changes impact consumption patterns for consumer goods and services. The income effect expresses the impact of increased purchasing power on consumption, while the substitution effect describes how consumption is impacted by changing relative prices. Different goods and services experience these changes in different ways. Some products, called inferior goods, generally decrease in consumption whenever incomes increase. Consumer spending and consumption of normal goods typically increases with higher purchasing power, in contrast with inferior goods.
Read more: What's the difference between the income effect and the substitution effect? | Investopedia http://www.investopedia.com/ask/answers/041415/whats-difference-between-income-effect-and-substitution-effect.asp#ixzz4wcsy3IOK
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