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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.
producer equllibrium
Appropriate Management of Sales: Demand forecasts are made area wise and after that sales targets for various areas are set in view of that. This helps the calculation of sales pe
What is optimal output rule? Optimal output rule: According to the optimal output rule, describe that profit is maximized through producing the quantity of output at that th
INDIRECT TAXES These are imposed on an individual mostly producers or traders but they can be passed on to be borne by others usually the final consumers. They can also be de
demand definitions
A chemical producer dumps toxic waste into a river. The waste decreases the population of fish, decreasing profits for the local fishing industry by $100,000 per year. The firm cou
Explain baumol''s static model
Q. Explain about Inventory Economies? Inventory Economies: Role of inventories is to aid the firm in meeting random changes in the output and the input sides of the operations
limitations of managerial ecomomics
Suppose you are an efficient expert hired by a manufacturing firm that uses two inputs, labor (L) and capital (K). The firm produces and sells a given output. You have the followin
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