(Answered) Assignmentmost repeat purchase markets can be described as

Economics

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Most repeat purchase markets can be described as stationary in the medium term. What does this mean and how do we know this is the case? What are the implications of this finding for managers?

What is the difference between zero-order and first-order effects? Which of the two is predominant in most repeat purchase markets? What does this finding mean for managers of these markets?

Draw and explain a typical gamma distribution. What does this indicate about the importance of light buyers? What happens to the distribution of light buyers over time?

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Microeconomics, Economics

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