Market Interrelationships and Applied Demand Analysis is popular PDF and ePub book, written by Michael K. Wohlgenant in 2021-06-29, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Market Interrelationships and Applied Demand Analysis can be Read Online from any device for your convenience.
Market Interrelationships and Applied Demand Analysis Book PDF Summary
This textbook addresses the core issues facing economists concerning price determination in commodity markets, especially food and agricultural commodities. This book hones in on the conceptual basis of the various relationships, with special emphasis on market interrelationships, both horizontally and vertically. This book covers key concepts such as consumer demand theory; quality, heterogeneous goods, and cross section demand; derived demand, marketing margins, and relationship between output and raw material prices; retail-to-farm demand linkages, imperfect competition, and short-run price determination; dynamic consumer demand; and dynamic models of the firm. What makes this textbook of particular use to students is its focus on bridging the gap between theory and empirical analysis. Going from theory to empirics requires that we have data—time series or cross section—that match the theoretical constructs. Often the data match is not perfect, either by definition or how the data are computed. In addition to problems of matching data with theoretical constructs, students and researchers need to know how to specify, estimate, and interpret results within the context of imperfect and often incomplete data. This textbook uses several data sets to illustrate how one might address problems in real-world settings. Furthermore, with exercises at the end of each chapter, students are able to test themselves on their ability to bring theory to life.
Detail Book of Market Interrelationships and Applied Demand Analysis PDF
- Author : Michael K. Wohlgenant
- Release : 29 June 2021
- Publisher : Palgrave Macmillan
- ISBN : 303073143X
- Genre : Business & Economics
- Total Page : 230 pages
- Language : English
- PDF File Size : 7,7 Mb
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