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different types of production funtion and curve given by different economist
Define the term Entrepreneurship Entrepreneurship : An entrepreneur is an individual who takes risks and organises the factors of production to make a product and therefore
Cost Function for Savings and Loan Industry * The empirical estimation of long run cost function can be useful in restructuring of the savings and loan industry in wake of savi
Q. Can you explain about Counterfactual? The ‘base case' or counterfactual is a statement of what could have happened without policy intervention, or if the policy intervention
RECENT DEVELOPMENT OF DEMAND THEORY: The basic theory of consumer behaviour discussed in the previous unit can be extended in many directions, and can be applied to cover opt
Is it possible for a firm to experience a technological change that would increase the marginal product of labor while leaving the average product of labor unchanged?
What is meant by non Price Competition? In which market structure does it exist? None price competition is an effort put by the supplier to earn extra profit without enhancing
Explain how a floating exchange rate works and the variables which affect the rate. Define a floating exchange rate as the price of a currency (in terms of another or basket of
Q. Define Economies of Scale? Economies of Scale: Most economic production requires producing firm or organization to make an initial investment (in real capital, in design and
Evaluation of the WTO: The WTO is different from and an improvement over the GATT in the following respects: • The WTO is more global in its membership. • The WTO ha
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