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Marketing Economies:
These are derived from the bulk purchasing of inputs and bulk distribution of outputs. A large firm is able to buy its raw materials in larger quantities. Such bulk purchases enable the firm to obtain discounts and free transportation. It also costs a little more to sell smaller quantities of output as sales cost per cost per unit of output sold tends to fall as the volume of sales increases. Distribution may even be taken over by subsidiary firms. As sales increases, advertising cost per unit sold reduces too. These advantages lead to a fall in per unit cost of production for the large firm.
Q. Explain Nominal GDP? Nominal GDP: Nominal gross domestic product measures total value of all the services and goods produced and traded for money in the formal economy, eval
Why a high level of labor force growth is correlated A high level of labor force growth is correlated--even though less powerfully--with a low level of output per worker. The a
Modern cost curves theory
Really briefly, what are 2 methods of measuring external stability? In Australia generally.
national income and what is used to measure it
Question: Product differentiation and entry/exit Two differentiated goods, apples and oranges, are located at the two extremes of a linear product space (a segment of length 1)
If the marginal product of labor is 45 units of output and the marginal products of capital is 56 units of output while the wage rate is $20 per worker and the cost of capital is $
Capitalist Economy: Under capitalist economy factors of production are owned and managed by private entrepreneurs. Production takes place on. the initiative an enterprise of the pe
Tax Policy Implementation: Take, e.g., the case of tax policy. It attempted to raise resources by a combination of direct and indirect taxes to finance a large part of increa
Model in economics is the permanent income hypothesis, which basically states that a household''s expenditures will not react to a change in income unless that change in income is
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