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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.
Why Do Monopolies Exist? Monopolists have market power and as a consequence will charges higher prices and generate less output than a competitive industry. It produces profit
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What is Managerial economics according to Spencer and Siegelman Spencer and Siegelman: Managerial economics is "the integration of economic theory with business practice for t
calculate point elasticity of demand for demand function q=10-2p for decrease in price from rs 3 to rs 2
production function
The following represents the section headers you should consider for your reasoned document. Each section should have (at least) two research citations to support your work :
Q. Show the example on transaction cost theory? Coase begins from standpoint that markets could in theory carry out all production and that what needs to be illustrated is th
critically analyze the firm''s theory of profit maxmization
What is optimal output rule? Optimal output rule: According to the optimal output rule, describe that profit is maximized through producing the quantity of output at that th
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