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| Topic: |
Business
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| Number of pages / Number of words: |
2 / 316 |
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On the other hand, the economic analysis of this concern is not as pessimistic. The analysis of water is looked at the same way other scarce resources are viewed. This "requirement approach" assumes that regardless of the price charged for water, the quantity demanded of water will remain the same. Therefore, it is assumed that the demand for water in the short run and the long run is zero; the quantity demanded will remain the same regardless of price...
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On the other hand, the economic analysis of this concern is not as pessimistic. The analysis of water is looked at the same way other scarce resources are viewed. This "requirement approach" assumes that regardless of the price charged for water, the quantity demanded of water will remain the same. Therefore, it is assumed that the demand for water in the short run and the long run is zero; the quantity demanded will remain the same regardless of price...
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