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Q. Define Economies of Scale?
Economies of Scale: Most economic production requires producing firm or organization to make an initial investment (in real capital, in design andengineering, in marketing) before even first unit of production takes place. As total production then grows, cost per unit of that initial investment shrinks. For this reason, most industries exhibit economies of scale, whereby unit cost of production declines as the level of output grows. Due to economies of scale, larger companies have an advantage in most industries and economy typically operates more efficiently when it's busy and growing (than when it is shrinking or stagnant).
The sales of a company are the part of the total sales of industry. If the conditions of industry changes then the sales of each of the firm in the industry is affected. All teh ti
Disposable Personal Income The amount of cash remaining after taxes are removed that an individual has the opportunity to spend.
How to start Economics Introduction assignment?
TC = Q3 – 8Q2 + 68Q + 4
Suppose taht two people, Michell andJames each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle
contemporary issues in microeconomics in nigeria
Ask questioThe difference between the present value of cash inflows and the present value of cash outflows over a period of time is termed as Net Present Value. This is used for th
Maurice has the following utility function: U (X; Y ) = 20X + 80Y ?? X2 ?? 2Y 2 where X is his consumption of CDs, with a price of $1, and Y is his consumption of movie videos, wit
reason for kinked demand curve
A country s choice among the production of education and nuclear submarines is an issue of opportunity cost. Explain the issue using a PPF. Resources are limited whereas
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