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Learning curve implies:
1) The requirement of labor falls per unit.
2) Costs will be high at 1st and then will fall with learning.
3) After eight years the labor requirement will be 0.51 and per unit cost will be ½ what it was in the 1st year of production?
ive been asked to compare shapes of graphs e.g. constant slopes increasing, decreasing, inelastc using the concepts of marginal and average changes?
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RECENT DEVELOPMENT OF DEMAND THEORY: The basic theory of consumer behaviour discussed in the previous unit can be extended in many directions, and can be applied to cover opt
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uses of time series in indian economy
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what are the properties of cob-douglas production function
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