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Q. What is Technical Economies?
The significant technical economies result from the use of specialised capital equipment that comes into effect only when output is produced on a large scale. Technical economies also arise from indivisibilities that are the characteristics of modern techniques of production. Or we can say that as the scale of production increases the firm reaps the benefits of mechanisation of using mass production methods. This will decrease the unit cost of production.
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
critically analyze the of profit maximization
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.
Analysis of unemployment in relation to economics
Management Decisions: An effective demand forecast assists the management to take suitable steps in factors which are relevant to decision making like plant capacity, raw-material
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the demand for widgets(x) is given by: px=160 -4x the production of widget has the following average variable cost: Avc=2x-20 fixed cost are 162 calculate the output level of widg
Disadvantages of Barter Trade It is impossible to barter unless A has what B wants, and A wants what B has. This is called double coincidence of wants and is difficult t
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Using Factor Incomes for Calculating National Income A second method is to sum up all the incomes to individuals in the form of wages, rents, interests and profits t
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