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Q. Define Economies of Scale?
Economies of Scale: Most economic production requires producing firm or organization to make an initial investment (in real capital, in design andengineering, in marketing) before even first unit of production takes place. As total production then grows, cost per unit of that initial investment shrinks. For this reason, most industries exhibit economies of scale, whereby unit cost of production declines as the level of output grows. Due to economies of scale, larger companies have an advantage in most industries and economy typically operates more efficiently when it's busy and growing (than when it is shrinking or stagnant).
how the increase in price will affect consumer''s ability to maximise satisfaction?
what is micro economics
Explain the axioms of completeness, transitivity and non-satiation using appropriate examples.
Trade union can also pay a useful role in improving the wages of the workers without causing adverse effects on employment. This case which is intensely associated with the idea of
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where would i find the matter for this topic?
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