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Explicit cost:
Explicit costs are payments made by the firm when it purchases or hires factors of production for the production of goods and services. They are also referred to as historical costs. They may include rents on land, wages and salaries of labour, interest or dividend earnings on capital and producer’s normal profit.
Economies of scale are the “advantages” of large-scale production.The expression “advantages” is used to represent benefits that help the firm to produce at reduced unit cost of production as a result of increasing all inputs in the long run. They are classified into internal economies of scale and external economies of scale.
Q. What do you mean by Bond? Bond: A financial security that represents promise of its issuer (generally a company or a government) to repay a loan over a specified time period
Explain why both the PES and PED tend to be inelastic in the short run for primary goods. PED deals with (primarily) the ability and propensity of consumers to switch to other
a) Microeconomics is concerned with decision-making within the firm, household or on the individual level, but macroeconomics is concerned with the behavior of the whole economic s
Is it possible for a firm to experience a technological change that would increase the marginal product of labor while leaving the average product of labor unchanged?
Use a PPF to explain the trade-offs that all economies face. All countries must construct some sort of system whereby output, allocation and distribution of goods is decided.
reaction of mechanism of nitrous acid with benzene diazonium chloride in presence of Cuperous oxide
Shor tage A condition under that the quantity demanded for a good or service exceeds the available supply for that good or service. Shortages usually cause a rise in price
Aggregate Demand When referred to in the circumstance of GNP or GDP, aggregate demand dealings the sum of what is spent by various parties in the United States for product and
Isomers are two or more forms of compounds which having the same compositions. Types of isomers (a) Stereo isomers (b) Structural isomers
PARALLEL ECONOMY: What is in popular parlance known as black money, and is, misleadingly called the 'parallel' economy, (as it operates very much with and within the legal, fo
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