what is Industry Demand and Company Demand:
Answer (1)
16th Oct, 2021
An industry demand schedule represents the relation of the price of the product to the quantity that will be bought from all the firms. It has a clear meaning when the products of the various firms are close substitutes. It becomes vague when there is considerable product differentiation within the industry.
Industry demand can be classified customer group-wise; for example, steel demand by construction and manufacture, airline tickets by business or pleasure and geographic areas by states and districts.
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