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Q. What is Unit Labour Cost?
Unit Labour Cost: How much an employer pays for labour needed to produce each unit of a good or service. Unit labour cost can be computed by dividing a worker's hourly (or annual) labour cost, by amount (in physical units or value terms) that they produce during that hour (or year). It is hence the ratio of labour costs to productivity. Companies try to decrease their unit labour cost, either by increasing productivity (denominator) orby reducing labour costs (numerator).
Location of industry and localization of industry: Location of industry tries to answer the key economic question "where to produce". It involves deciding on the area that an
What is main difference between nominal money supply and real money supply? Real money supply is the supply of real money in the economy. Real money is supplied considering th
What are the properties of indirect utility function? Properties of the indirect utility function: While u(x) is continuous and monotonic onto R L + and (p, m) > 0, the in
quasi rent theory
Much of the supply-side, fiscally conservative economic policies of Margaret Thatcher, Ronald Reagan, and even Mike Harris in Ontario were predicated on the belief that high income
Why some country saving less and consumption more?
A tax imposed on a market with an inelastic demand and an elastic supply will cause
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quesinrent
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