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Q. What is Transport and Storage Economies?
As the output increases, unit cost of transportation of raw materials, intermediate products and finished products fall. This is for the reason that a large firm may be able to decrease transport costs by having their own transportation means or by using larger vehicles. In the same way, as the size of the firm increases storage costs will also fall.
Define Williamson''s Model of Managerial Discretion practice?
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
ROLE OF SCARCITY IN MANAGEMENT DECISION MAKING
managerial principles to consider when determining level of output of afirm
Significance of managerial economics Industrial and Business enterprises aim at earning maximum proceeds. In order to attain this objective, a managerial executive has to take
What is the meaning of demand In economics, demand has a specific meaning distinct from its ordinary usage. In common language we treat 'desire' and 'demand' as synonymously. T
Advantages of Planned System i) Uses of resources : Central planning can lead to the full use of all the factors of production, so reducing or ending unemployment. ii
Methods which rely on quantitative data: Rule-based forecasting Data mining Quantitative analogies Discrete event simulation Neural networks Extrapo
p=10, TC= 1000+2Q+.01Q^2, Q=?
Q. Example on Relationship between marginal and average cost? This relationship between marginal and average cost can easily be recalled with the aid of Fig. below. It can be s
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