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Consumers are said to be rational thinkers and will purchase those goods and commodities so as to achieve highest total satisfaction from their income. The elevation in the price of petrol and diesel has constrained the tastes of the people who now have the ability to buy a 100cc bike rather than a 125cc bike due to increase in the price of petrol. This is known as the substitution effect which is one of the major reasons responsible for the downward shape of the demand curve. Bike makers are making a cautious approach this year . They are trying to absorb the increase in costs of production due to high costs of steel...
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Common topics in this essay:
- Economics Commentary
- Forecasting Oil Price and Demand
- Price Elasticity of Demand
- Supply, Demand, and Price
- Supply, Demand, and Price
- police mountain bikes
- Dirt Bikes
- Dirt Bikes
- dirt bikes
- Economics Commentary
- History Of Bikes
- Mountain Bikes
- Supply Demand Price
- Supply, Demand and Price
- BIKES NOT ALLOWED IN PUBLIC SKATEPARKS
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