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State the Fixed factor of production
Input level of a fixed factor can't be varied in the short run. Capital falls under the category of fixed factor. Capital alludes to resources likemachinery, buildings etc
Another vital relationship that is often referred to in economic analysis is the relationship between consumption expenditure andprice elasticity. From the law of demand, we know t
exaplain cournot''s duopoly model with graph?
Question: i) Briefly explain the importance of forecasting for managers? ii) To what extent will managers rely on surveys in business forecasting? iii) What do you mea
real GDP is increasingly criticized for its alleged failure to adequately measure the standard of living. To what extent do you think this criticism is valid?
encrimetal concepts
Describe the Status goods of law of demand The law doesn't concern the commodities that function as a 'status symbol', add to the social status or exhibit prosperity and opulen
define scarcityand oppurtunity cost.show how these concepts are useful in managerial decision making
ROLE OF SCARCITY IN MANAGEMENT DECISION MAKING
Basic textbook models, such as the Mundell-Fleming model, say that capital inflow happens due to the domestic interest rate being higher than the world interest rate, and therefore
Michael was discussing the importance of production analysis and cost analysis to managerial economics with a final year Open Campus student. The final year student, Catherine, sta
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