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Explain what economies of scale are and why they have become increasingly common in later years.
Economies of scale - Enhance in fixed factors, but output enhances at a proportionately higher rate than unit costs
a) Technical economies of scale - spreading of fixed costs, improved use of capital
b) Managerial economies of scale - higher efficiency in firms production units by specialisation
c) Purchasing economies - bulk buying, good customer prices
d) Marketing economies of scale - advantages of having broad brand-name recognition
e) Financial economies of scale - larger asset base for security in loans, lower interest
What is affected variable and cause variable? In a graph, one variable is dependant and the other is independent. The dependant variable is known as effect variable and indepe
illustrate and explain the changing demand for big mac using indifference curve and budget line
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Which element of the periodic table has the most characteristics and is used in everyday life?
edge worthmodel
NETWORK EXTERNALITIES Till this point we have assumed that people's demands for good are independent of each other. Actually, a person's demand can be affected by the number
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please can you explainn what "down 0.1 percentage point on the quarter means"?
I have an online test which needs to be done on 60 min, would this website be able to take it with me? like to be available for 60 min answering the multiple choice questions with
1. Describe why government regulation is required, citing the major reasons for government involvement in a market economy. 2. Justify the rationale for the intervention of gove
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