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What are constant returns to scale?
Constant returns to scale:
A constant return to scale (CRS) implies that doubling inputs precisely double outputs, which is frequently a reasonable assumption to make concerning technologies. Decreasing returns to scale implies that doubling inputs are less than doubling outputs. And also increasing returns to scale implies that doubling inputs are more than doubling outputs.
explain consumer equilibrium diagrammatically as well mathematically by using necessary and sufficient conditions
what are the limitations of economies of scale?
Methods of Forecasting The various methods of forecasting demand may be grouped under the followings categories: Opinion Polling Method: In this method the opinion
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The Standard Indifference Curve Diagram. The standard model of labour leisure choice does not distinguish between females and males. It is a unisex model. The vertical axis gives
how does pp curve solve the problem of how to produce, what yo produce, and when to produce?
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discuss and illustrates the following terms with diagrams1.inferior goods.2.normal goods,3.giffen goods
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