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Q. Functional relationship between input and output known as

Q. Product differentiation is the important feature of

Q. In …….approach, Consumers reactions on the new products are found out indirectly with the help of specialized dealers

Q. So long as Average Revenue is falling, Marginal Revenue will be …………. Average Revenue

Q. If the percentage increase in quantity of a commodity demanded is its price, the coefficient of price elasticity of demand is:

Q. Unitary elasticity of demand is:

Q. ……………… demand forecasting is prepared by different trade association in order to estimate the demand for particular industries products

Q. An input should be so allocated that the value added by the last unit is the same in all cases.

Q. The properties of indifference curves are:

Q. The responsiveness of demand due to a change in promotional expenses is called