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Drafting of Production Policy: Demand forecasts assists in drafting appropriate production policy so that there may not be any space between future demand and supply of a product. This can in addition ensure:
• Routine Supply of Materials: Demand forecasting facilitates in figuring out the preferred volume of production. The necessary prerequisite of raw materials in future can be calculated on the basis of such forecasts. This ensures regular and continuous supply of the materials additionally to managing the amount of supply at the economic level.
• Best Possible Use of Machines: Demand forecasting in addition expedites cutting down inactive capacity since only the essential amount of machines and equipment's are set up to meet future demands.
• Regular Availability of Labour: As soon as demand forecasts are made, supplies of essential amount of skilled and unskilled workers can be organised well beforehand to meet future production plans.
PROPORTIONAL TAX Is where whatever the size of income, the same rate or same percentage is charged. Examples are commodity taxes like customs, excise duties and sales tax.
what is the theory of firm?
The individual and market demand curves The quantities and prices in the demand schedule can be plotted on a graph. Such a graph after the individual demand schedule is called
Q. Proportion of Income Spent on a Commodity? Another characteristic that has an impact on the elasticity of demand for a commodity is proportion of income that consumers use u
Q. Explain the Shut down point? ShutdownPoint: With MR = MC, firm attains equilibrium at point E where it produces OM amount of the output. To produce this output, firm incur
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Green Shield Insurance gives NEMO Corporation with coverage for prescriptions, dental work, and extended health services. Every subscriber uses $435 worth of dental services per ye
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price output determination under monopoly explain
diagram of a perfect competition
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