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Q. What do you mean by External Economies?
External economies arise outside the firm as a result of improvement in industrial environment in that the firm operates. They are external to the firm though internal to the industry to which the firms belong. They may be realised from actions of other firms in the same industry or in another industry. Their effect is to cause a change in the prices of factors used by the firm. They cause a shift in the long-run and short-run cost curves of the firm.
Q. Analysis of team production? Harold Demsetz and Armen Alchian's analysis of team production is a clarification and amplification of earlier work by Coase. According to them,
You have opened your own word processing service. You have already bought a special computer needed for word processing and paid $5,000 for it. However, due to the cost changes in
1. According to an article in San Luis Obispo Tribune July 21, 2006 37% of the college freshman and 48% of the college seniors carry a credit balance from month to month. Suppose
a. A major freeze destroys a large number of orange trees in Florida Ans- Since the freeze destroyed a large number of orange trees in Florida the number of oranges the selle
In Home and Foreign there are 2 factors of production, land & labor, used to produce only one good. The land supply in every country and the technology of production are exactly th
Supply-side policies Supply-side policies are intended to increase the economy's potential rate of output by increasing the supply of factor inputs, such as labour inputs and
how much output should a firm produce? 80$ per unit C(Q)=40+8Q+2Qsquared
The Central Bank These are usually owned and operated by governments and their functions are: i. Government's banker : Government's need to hold their funds in an ac
Explain Managerial economics according to Mote and Paul Haynes, Mote and Paul: "Managerial economics refers to those characteristics of economics and its tools of analysis mos
write a note on marris growth maximising model?
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