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Q. What is Marketing Economies?
They are allied with selling of the product of the firm. They arise from advertising economies. Because advertising expenses increase less than proportionately with the increase in output, advertising costs per unit of output falls as the output increases. In the same way sales promotion expenditures such as samples, salesmen force etc. also increase less than proportionately with output. Moreover a large firm can have special arrangements with exclusive dealers to sustain a good service department for the product of the firm. Therefore the average selling costs fall with increase in the size of the firm.
Factors influencing Supply Curve State of technology There is a direct relationship between supply and technology. Improved technology results in more supply as with
Q. Construction of an explanatory model? Construction of a sample: To apply multiple regression a large sample is generally essential (ideally between 2,000 to 15,000 indivi
A city has two newspapers. Demand for either paper depends on its own price and the price of its rival. Demand functions for paper A & B respectively, measured in tens of thousands
what are functions of management
Define scarcity and opportunity cost. Show how these concepts are useful in managerial decision making
Q. What is External Diseconomies? The expansion of an industry is likely to generate external diseconomies that raise the cost of production. An increase in the size of industr
Bank of Issue The central bank enjoys the monopoly of bank note issue i.e. no bank other than the central bank is authorised by law to print currency notes. Printing of paper
define scarcity and opportunity cost.Show how these concept are useful in managerial decision making
If the marginal product of L is MPL = 10K - L and the marginal product of K is MPK = 10L - K, then what is the maximum possible output when the total amount that can be spent on K
Advantages a. They are less costly to administer because the producers and sellers themselves deposit them with the government. b. If levied on goods with inelastic deman
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