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What is optimal output rule?
Optimal output rule:
According to the optimal output rule, describe that profit is maximized through producing the quantity of output at that the marginal cost of the final unit produced is equivalent to its marginal revenue.
Define scarcity and opportunity cost. Show how these concepts are useful in managerial decision making
Oligopoly can be characterized as follows: Small Number of Sellers: There are more than one sellers of a product though; the number isn't so huge in order to produce perfect
Factors influencing the supply of a commodity a) Own Price of the commodity There is a direct relationship between quantity supplied and the price so that the hig
Q. Explain about Transaction Cost Theory? The below model reveals market and institutions as a possible form of organisation to coordinate economic transactions. When external
Ann owns a lawn-mowing company. She has 400 lawns she requires to cut every week. Her weekly revenue from these 400 lawns is $20,000. Given an 18-inch-deck push mower, a laborer ca
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Describe about regression analysis An illustration from the automobile industry is befitting for explaining the forecasting method that uses simple regression analysis. Let's p
Indifference Curve Analysis In the 1930s a group of economists, including Sir John Hicks and sir Roy Allen, came to believe that cardinal measurement of utility was not necess
Determine the Specific Place of demand The demand should relate to a specific market as well. For instance, every year in the town of Dehradun, demand for school bags is 4,000
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