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Q. Development of Skilled Labour - External Economies?
As the industry grows training facilities for labour will increase. This helps development of skilled labour that would increase the productivity of workers in the firms.
Growth of Subsidiary and Ancillary Industries: Expansion of an industry can facilitate the growth of subsidiary and ancillary industries to produceequipments, tools and machines etc. and to provide them to main industry at the lower prices. Similarly firms can also come up to transform the waste of the industry into some useful products. This tends to decrease the cost of production.
A toy manufacturer makes output according to the production function: where n is the number of workers employed by the firm, O is a technological parameter and g the worker
Q. Development of Skilled Labour - External Economies? As the industry grows training facilities for labour will increase. This helps development of skilled labour that would i
Q. Explain about Long run production function? Long run is a phase adequately long so that all factors together with capital can be changed. The factors that can be increase
For some time, two firms have charged $0.90 per standard unit of crating materials for shipping a particular type of machine tool and each has been selling about 20,000 units per m
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Illustrate the application of economic theory to some business problems
a. Explain why the demand for a particular brand is more elastic than the demand for all cigarettes. If Lucky Strike raised its price by 1% in 1918, was the price elast
Determine the law of Demand Curve The law of demand can also be presented through a curve known as demand curve. Demand curve is a locus of points showing numerous alterative p
What is Demand theory: Demand theory relates to the study of consumer behaviour. It addresses questions like what incites a consumer to buy a particular product, why do consume
calculate point elasticity of demand for demand function q=10-2p for decrease in price from rs 3 to rs 2
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