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determination of size of firm
TYPES OF UNEMPLOYMENT A person can be either in the labour force or not in the labour force of an economy. The person not included in the labour force includ
the demand for widgets(x) is given by: px=160 -4x the production of widget has the following average variable cost: Avc=2x-20 fixed cost are 162 calculate the output level of widg
REALISM OF PERFECT COMPETITION The assumptions of perfect competition are obviously at variance with the conditions which actually exist in real world markets. Some market
Advertising expenditure must remain the same If advertising expenditure of a firm increases, consumers may be tempted to buy more of its product. Hence the advertising expendit
WHY MANAGERS NEED TO KNOW ECONOMICS The influence of economics towards the performance of managerial duties and responsibilities is of major importance. The importance and cont
wHAT IS THE SIGNIFICANCE OF EXPECTATION ELASTICITY ?
howw much should the firm produce to maximize its profits
The gap between theory and practise and the role of managerial economics: We have noted above that application of theories to the process of business decision making contributes a
p=10, TC= 1000+2Q+.01Q^2, Q=?
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