A complete understanding of the economics underlying the loss of monopoly control over the market requires consideration of other factors of elasticity besides substitute goods.
12.
Publications : Bowling alleys substitute good design for jukebox appeal, 2 / 52, and $ 100, 000 value for $ 40, 000, 11 / 53, Arch.
13.
In the time of the crisis in Russia, which also influences Ukraine, ( the EBRD ) will support projects that envisage production of export-oriented commodities and import-substituting goods,
14.
She also reformed the Danish currency, substituting good silver coins for the old and worthless copper tokens, to the great advantage both of herself and of the state.
15.
Method study is the principal technique for reducing the work involved, primarily by eliminating unnecessary movement on the part of material or operatives and by substituting good methods for poor ones.
16.
If prices remain high because increases in supply cannot keep pace with demand, then this also signals other business to provide substitute goods in order to take advantage of profit opportunities.
17.
Substitute goods consist of two items where " a rise in the price of one causes an increase in demand for the other . " In 1926, Marco Fanno, an Italian economist, demonstrated that elasticity ( and more importantly, stability ) increase with additional substitutes.
18.
For example, in the event the price of sugar rises by 100 per cent, our expenses will remain the same if we consume only half of what we used to take, " he said, adding that another recourse was to substitute goods which had increased in price with cheaper items.
19.
Such laissez faire advocates suggest that only a coercive monopoly should be broken up, that is the persistent, exclusive control of a vitally needed resource, good, or service such that the community is at the mercy of the controller, and where there are no suppliers of the same or substitute goods to which the consumer can turn.
20.
This measure of elasticity is sometimes referred to as the " own-price " elasticity of demand for a good, i . e ., the elasticity of demand with respect to the good's own price, in order to distinguish it from the elasticity of demand for that good with respect to the change in the price of some other good, i . e ., a complementary or substitute good.
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