Cobweb Model for the Stabilization of Vegetable Prices in Some Selected Villages of Noakhali District
Authors:
Binata Rani Sen, Md. Maznur Rahman & Mohammad Iqbal Hossain
Abstract
In this paper, a linear Cobweb model is used to analyze the phenomenon of commodity price fluctuations of vegetables in some selected villages of Noakhali district. The fluctuation of vegetable prices is normal in the market economy. The level of the price and the fluctuation not only has a significant influence on farmers and consumers, but a reasonable and stable price also has an irreplaceable effect on the safe running of the vegetable market. The assumptions for the model are (i) vegetables have no equal substitutes; (ii) there is no foreign competition. The analysis found that the slope of the demand function of the price was smaller/larger than the slope of the supply function of the price which means that the price and quantity supplied of the fresh vegetables would oscillate/indicate around a fixed price and also spiral inward/outward.
. Key words:
Vegetable Prices, Cobweb Model, Price Fluctuation, Market economy, Noakhali district
| Title: |
Cobweb Model for the Stabilization of Vegetable Prices in Some Selected Villages of Noakhali District |
|---|---|
| Author: |
Binata Rani Sen, Md. Maznur Rahman & Mohammad Iqbal Hossain |
| Journal Name: | International Journal of Science and Business |
| Website: | ijsab.com |
| ISSN: | ISSN 2520-4750 (Online), ISSN 2521-3040 (Print) |
| DOI: | https://doi.org/10.5281/zenodo.1491286 |
| Media: | Online |
| Volume: | 2 |
| Issue: | 4 |
| Acceptance Date: | 15/11/2018 |
| Date of Publication: | 19/11/2018 |
| PDF URL: | https://ijsab.com/wp-content/uploads/289.pdf |
| Free download: | Available |
| Page: | 707-717 |
| First Page: | 707 |
| Last Page: | 717 |
| Current Status: | Published |
Cite This Article:
Binata Rani Sen, Md. Maznur Rahman & Mohammad Iqbal Hossain (2018). Cobweb Model for the Stabilization of Vegetable Prices in Some Selected Villages of Noakhali District. International Journal of Science and Business, 2(4), 707-717. doi: https://doi.org/10.5281/zenodo.1491286
Retrieved from https://ijsab.com/wp-content/uploads/289.pdf
About Author
Binata Rani Sen, (Corresponding Author) Department of Economics, Noakhali Science and Technology University, Noakhali, Bangladesh
Md. Maznur Rahman, Department of Economics, Noakhali Science and Technology University, Noakhali, Bangladesh
Mohammad Iqbal Hossain, Department of Economics, Noakhali Science and Technology University, Noakhali, Bangladesh
DOI: https://doi.org/10.5281/zenodo.1491286