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The comparability principle
Associations representing workers providing services - clerical, postal, teaching, etc. - have always attempted to apply the "principle of comparability" with wages of those in similar occupations, though it is often very difficult to compare workers in different occupations, since no two jobs are alike.
What is optimal output rule? Optimal output rule: According to the optimal output rule, describe that profit is maximized through producing the quantity of output at that th
What are the essential conditions for perfect completion? Two essential conditions for perfect competition are as given below: a. Various producers, none of whom have a hug
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.
Managerial Economics helps create utility for the Society.
how realistic is the sales maximisation model from your experience with business objectives as persued by firms
when firm can achieve optimization
The Spendthrift Economy This assumes a circular flow of income in a closed economy with no Government sector and no foreign trade. It also assumes the existence of two sect
Neo Classical vs Keynesian School We know that Keynesian economics was propounded as a revolution against the then prevailing orthodoxy of the classical school. In time,
Assignment
Using the discounting principle calculate the present value of an annuity of five years at Rs. 500 payments made at the end of each of the next five years at 10% interest. stion..
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