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Estimating Labour Productivity by Economic Sector for Target Year and its Change between Base and Target Year
Contribution of each sector to GDP is known. The contribution of a given sector to GDP in the target year is already estimated. The productivity of labour for each sector in the target year is estimated by dividing the GDP share of each sector by the number of workers in that sector.
Labour productivity might change from the base to the target year. This may be due to improvements in technology,management techniques and related factors. Such changes are accounted and labour productivity is estimated for the target year.
Slope of an Iso-quant: Since along an iso-quant the level of output remains the same, if θL units of θL are substituted for K units of K, the increase in output due to θ L
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i want an application on indifference curve of a specific firm? can i get it easily?
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ADVANTAGES AND DIS ADVANTAGES OF MONOPSONY
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