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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.
The Firm The unit that uses factors of production to produce commodities then it sells either to other firms, to household, or to central authorities. The firm is thus the uni
Q. Illustrate Internal Economies of Scale? Internal economies of scale are the benefits of large scale production. They are enjoyed by the firm when it increases its scale of p
Q. Explain about Utility analysis? A subset of consumer demand theory which analysis consumer behaviour and market demand employing marginal utility and total utility. Key prin
(a) Describe how commercial banks determine their output, interest rates and profit levels assuming they act as oligopolies. (b) To what extent is the above statement a reality
Commercial Banks A Commercial Bank is a financial institution which undertakes all kinds of ordinary banking business like accepting deposits, advancing loans and is a member
Factors influencing Supply Curve State of technology There is a direct relationship between supply and technology. Improved technology results in more supply as with
Q. What is Labour Requirements on the production capacity? Labour Requirements: Spending on labour is one of the most vital elements of cost of production. Dependable and cor
Q. What is Internal Diseconomies of Scale? Internal economies of scale exist only up to a certain size of the plant. Size of plant is called the optimum plant size since with t
Q. Explain about Transaction Cost Theory? The below model reveals market and institutions as a possible form of organisation to coordinate economic transactions. When external
p=10, TC= 1000+2Q+.01Q^2, Q=?
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