Business Mathematics Notes | PDF, Syllabus | B COM, BBA 2020

Download Business Mathematics Notes, PDF, Books, Syllabus for B COM, BBA 2020. We provide complete business mathematics notes. Business Mathematics study material includes business mathematics notes, business mathematics book, courses, case study, business mathematics syllabus, question paper, MCQ, questions and answers and available in business mathematics pdf form.

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Price Ceiling and Price Floor

A price ceiling can be defined as the price that has been set by the government below the equilibrium price and cannot be soared up above that. A price floor is said to exist when the price is set above the equilibrium price and is not allowed to fall.

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Elasticity of Supply

According to Prof. Thomas, “The supply of a commodity is said to be elastic when as a result of a change in price, the supply changes sufficiently as a quick response. Contrarily, if there is no change or negligible change in supply or supply pays no response, it is elastic.”

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Income Elasticity of Demand

An increase in the income of consumers increases the demand for the product even if the price remains constant. The responsiveness of quantity demanded with respect to the income of consumers is called the income elasticity of demand.

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