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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:
What is the difference between monopoly and perfect competition? Monopoly versus Perfect Competition: 1. Perfect competition is equal to monopoly competition, at the perfe
THE DETERMINATION OF EQUILIBRIUM NATIONAL INCOME National income is said to be in equilibrium when there is no tendency for it either to increase or for it to decrease. The a
plot the demand schedule and draw the demand curve for the data given for marijuana in the case above
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Disadvantages The effect on incentives High progressive tax makes work and extra effort become less valuable. The effect on the willingness to accept risk
Q. Explain the concept of demand function? Identical to the demand theory which pivots around the concept of demand function, theory of production revolves around the concept o
Investment Investment is the process of increasing the productive capital stock of a country, or can be defined as the production of goods not for immediate consumption. T
Explain in brief the relationship between TR,AR and MR under perfect market condition.
production function
Movements along the supply curve Movements along the supply curve are brought about by changes in the price of the commodity. When price increases from P1 to P2, quant
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