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Q. Show the Empirical analysis?
Empirical analysis aimed at investigating nature of scale economies, degree of input complementarily orsubstitutability, or the nature and extent of productive inefficiency can be conducted employing a production function or again more easily employing a cost function.
If the provided time period under consideration is sufficiently short, then assumption of a given technology is valid. Longer-term effects of technological progress or adaptation of existing superior technology can be introduced into the analysis. Technical progress increases the maximum output which can be attained from a given collection of inputs and so in the presence of unchanging unit prices of the inputs technical progress decreases the minimum cost which should be incurred to produce a given quantity of output. This phenomenon is merely an extension to the time dimension of the duality relationship which links cost functions and production functions. Particularly empirical interest are the magnitude of technical progress and its cost-reducing effects and possible labour-saving bias of technological progress and its employment effects which are transmitted from the production function, to the cost function and then to labour demand function.
OBJECTIVES OF CREDIT CONTROL The old objective of controlling credit creation by the commercial banks in the country was dictated by considerations of maintaining stability of
Factors determining Elasticity of demand Ease of substitution. Nature of the commodity i.e. whether it is a necessity of life, luxury or addictive. Consumers
Q. Cheapening of Materials and Equipments? Expansion of an industry increases the demand for different kinds of materials and capital equipments. This will result in large scal
Open Market Operations Open market operations is another traditional or quantitative weapon at the disposal of central bank to control the volume of aggregate bank credit in t
Direct Action Direct action in more than one from has been employed by the central banks either as an alternative to their discount rate policy or open market operations or tog
definition of optimal use of veriable input
Free disk space can be kept track of using a free list or a bit map. Disk addresses require D bits. For a disk with B blocks, F of which are free, state the condition under which t
Strategic Reasons For political or strategic reasons, a country may not wish to be dependent upon imports and so may protect a home industry even if it is inefficient. Many co
Goverment Banker, Fiscal Agent and Adviser Central banks in all countries acts as the fiscal agent, banker and adviser on all important financial matters to government of thei
Buffer stocks and stabilization funds In this case the government buys up part of the supply when output is excessive, stores this surplus, and resells it to consumers in time
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