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Q. Cheapening of Materials and Equipments?
Expansion of an industry increases the demand for different kinds of materials and capital equipments. This will result in large scale production of equipments andmaterials. Large scale production will decrease their cost of production and so their prices. Therefore the firms employing them will get them at lower prices.
PROBLEMS OF USING PER CAPITA INCOME TO COMPARE STANDARD OF LIVING OVER TIME 1) The composition of output may change. e.g. more defence-related goods may be produced and
define scarcity and opportunity cost..
Drafting of Price Policy: Demand forecasts assist the management to prepare a few appropriate pricing systems, so that level of price doesn't fall and rise to a great extent at th
Define the simple statistical concepts of average Simple statistical concepts of average (mean) and standard deviation are used. Estimating a relationship among variables need
Q. Optimal Input Combination for Maximisation of Output? Equilibrium conditions of the firm are identical to the above situation which is, iso-cost line must be tangent to the
how manager can apply scarcity and oppotunity cost in managerial decision making
define equi marginal principle
Q. Explain about Transaction Cost Theory? The below model reveals market and institutions as a possible form of organisation to coordinate economic transactions. When external
MONOPOLISTIC PRACTICES The following practices may be said to characterize monopolies. Exclusive dealing to supply and collective boycott Producers agree to supply onl
Question : i) Consider a discriminating monopolist is selling a product in two separate markets in which demand functions are: P 1 = 6 - Q 1 P 2 = 18 - 2Q 2 The mono
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