The firm, Managerial Economics

The Firm

The unit that uses factors of production to produce commodities then it sells either to other firms, to household, or to central authorities. The firm is thus the unit that makes the decisions regarding the employment of the factors of production and the output of commodities. They are assumed to be aiming at maximizing profits.

Posted Date: 11/27/2012 4:50:22 AM | Location : United States







Related Discussions:- The firm, Assignment Help, Ask Question on The firm, Get Answer, Expert's Help, The firm Discussions

Write discussion on The firm
Your posts are moderated
Related Questions
a) The following would most likely shift a production possibilities curve to the right? b) Money should not be considered an economic resource ? c)  Which of the following is

Q. Show the importance of Demand forecast? Demand forecast for a particular commodity furthermore offers recommendations for demand forecast of associated industries. For exam

Q. Explain about Utility analysis? A subset of consumer demand theory which analysis consumer behaviour and market demand employing marginal utility and total utility. Key prin

A firm producing hockey sticks has a production function given by X = 2 KL In the short-run, the firm's amount of capital equipment is fixed at K = 1000. The rental rate fo

The production function of a small shop that frames pictures is Q = 5 √ LK where Q is the number of pictures framed per day, L is labor hours and K is the machine hours.

THE BUDGET The budget is a summary statement indicating the estimated amount of revenue that the government requires and hopes to raise.  It also indicates the various sources

In the national income analysis, investment refers to the value of than part of the aggregate output for any given time period which takes the form of construction of new structure


Explain the classification of oligopoly?