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Variable Costs (VC)
These are costs, which vary with the level of production. The higher the level of production, the higher will be the variable costs. They are associated with variable factors of production in the Short Run. Examples are costs of materials, cost of fuels, labour costs and selling costs.
The Determination of the Value Money Since money is primarily a medium of exchange, the value of money means what money will buy. If at one time a certain amount of money
Rail Tours sells packaged tours on rail lines, including gourmet meals and a reserved bed. The most popular tours are in the autumn when colors are at their peak. The overnight pac
A firm can produce steel with or without a filter on its smokestack. If it produces without a filter, the external costs on the community are $500,000 per year. If it produces with
Bank of Central Clearance ,Settlement and Transfer This function was first developed by the bank of England toward the middle of the nineteenth century. In 1954, a scheme was
Measures to control inflation An inflationary situation can effectively be addressed/tackled if the cause is first and foremost identified. Governments have basically three
p=10, TC= 1000+2Q+.01Q^2, Q=?
Determine the Managerial economics techniques Though the most frequent applications of these techniques are as below: Risk analysis: Numerous models are used to quantif
example problems for the types of pricing
Describe ramsey pricing with detailed examples
WASTE IN IMPERFECT COMPETITION Monopolistic competition involves some degree of waste in two aspects. When new firms enter the industry and the demand for the individual fi
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