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A firm is employing 100 hours of labor and 50 tons of cement to produce 500 blocks. Labor costs Rs 4 per hour and cement costs Rs 12 per ton. For the quantities employed MPL = 3 and MPC = 2. Show this situation in an isoquant-isocost diagram. Explain and show in the diagram, how the firm can produce the same output at a lower total cost.
pricing under oligopoly
Ask questiHow does economic theory contribute to managerial decisions? on #Minimum 100 words accepted#
Explain the classification of oligopoly?
PHILLIPS CURVE The Phillips curve, named after A. W. Phillips, describes the relationship between unemployment and inflation. In 1958 Phillips, then professor a
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You are the new owner of Vanda-Laye Corporation. You are interested in your company''s cost and revenue relationships as well as its future pricing strategies. Tasks: Analyze how
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Because of the complex and dynamic nature of marketing phenomenon, demand forecasting has become a regular and significant business exercise. It is necessary for profit maximisatio
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