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isoquant and its properties
Why Do Monopolies Exist? Monopolists have market power and as a consequence will charges higher prices and generate less output than a competitive industry. It produces profit
Methods which rely on quantitative data: Rule-based forecasting Data mining Quantitative analogies Discrete event simulation Neural networks Extrapo
Real and nominal measures Output, Expenditure and Income can be valued at current market price in which case we speak, for example, of money or Nominal NNP, or NNP valued
Laws of returns to scale alludes to the long-run analysis of the laws of production. In the long run, output can be increased by varying all factors. So in this section we study th
An optimum Population Countries are often described as under populated or overpopulated. From the economist's viewpoint these terms do not refer to the population density (i.
REASONS FOR FLUCTUATIONS IN AGRICULTURAL PRICES Production depends on factors beyond the control of the producers e.g. weather, disease and pests. Actual and planned output i
EFFICIENCY-WAGE THEORIES OF UNEMPLOYMENT Efficiency wage theories are clearly non-Walrasian theories in as much as they postulate payment of wages that are higher than m
Enumerate the Scope of managerial economics The scope of managerial economics contains following subjects: 1. The Theory of demand 2. The Theory of production 3. The
The greenhouse gas emission is estimated to grow in the medium and long term. In order to minimize the negative effects of global climate change, it is required to stabilize the co
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