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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?
describe engineering cost theory in detail
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having utility function U(x,y)= x1/2=y1/2, determine the hicksian demand function, expenditure function and indirect utility function.
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What are the most important challenges that economists try to address? (ii) What is the role of government in a market based economy? (iii) Who are the main economic players and w
explain marris model of the managerial enterprise
Who are the competitors in the jarred baby food market? What market share do they have? How do Heinz and Beech-Nut compete with one another? Are the barriers to entry high or low f
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