Distinguish between internal and external economies of scale, Business Economics

Use short notes and illustrations to answer the following questions:

i) Distinguish between an indifference curve and an isoquant

ii) Distinguish between substitution and income effect of a price fall for a normal good.

iii) Distinguish between internal and external economies of scale

iv) What is the law of diminishing returns and state the conditions under which it is tenable

v) The profit-maximizing output for a firm is at the point where MR = MC, illustrate and comment for the case of a firm that faces a downward-sloping demand curve.

Posted Date: 3/8/2013 5:21:35 AM | Location : United States







Related Discussions:- Distinguish between internal and external economies of scale, Assignment Help, Ask Question on Distinguish between internal and external economies of scale, Get Answer, Expert's Help, Distinguish between internal and external economies of scale Discussions

Write discussion on Distinguish between internal and external economies of scale
Your posts are moderated
Related Questions
What policies can less developed countries follow to resolve their debt problem? Highly indebted countries can resolve by less developed countries: Seek help by internat

A. The correct duopolistic firm equilibrium o/p and price B. Equilibrium profit

Illustrate liberalise or open up trade in market for promoting development? Liberalise or open up trade implies that: • Abandoning fixed exchange rates and elimination of re

This problem illustrates a consumer's decision to be homeless in the presence of a minimum housing-consumption constraint, imposed through misguided government regulation. Let c

Markets are often classified in terms of the nature of competition and collaboration they facilitate. In economic analysis, if the elements of competitions are “pure” then the mark

What is social cohesion? Social cohesion: Social cohesion is regarding how united, cooperative, connected and trustful a society is. This cohesion desires tolerance for c

how does economic theory contribute to managerial decisions?

QUESTION ‘To assist policy makers discern e-Government initiatives in relation to their responsibility vis-à-vis other governmental issues, it is critical that the Governmen

What are economic systems? An economic system is the system of organisations utilized by a society to solve the economic difficulty of what how and for whom to make. There are

Illustrate some example of the development process affected on culture. Examples of the development process affected on culture: • Foreign Direct investment (FDI) and IMF st