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Q. Illustrate about Pecuniary economies?
Pecuniary economies (which is monetary economies) are those economies accrued by the firm from paying lower prices for the factors used in distribution and production of the product because of bulk buying by the firm. They add to the firm on account of discounts it can attain because of its large scale production. They decrease the money costs of the factors for a particular firm.
Pecuniary economies are realised by a firm in the following ways:
Other Determinants 1. Rate of Interest Is contained in the argument of the classified economists who argued that rational consumers will save more and consume les
Define Williamson''s Model of Managerial Discretion practice?
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Number 1 work: Week 4 Discussion - Empirical Demand Function and Forecasting The empirical demand function can be used in conjunction with historical data to predict pricing and
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Fixed Costs (FC) These are costs which do not vary with the level of production i.e. they are fixed at all levels of production. They are associated with fixed factors of p
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Q. Evaluate Total Cost - Fixed and Variable ? Total cost (TC) of the firm is a function of output (q). It would increase with the increase in output, which is, it differs dire
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