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The production function can have many uses. It can be used to compute least-cost factor combination for a given output or maximum output combination for a given cost. Knowledge of
Explain cost output relationship with reference to: a. Total fixed cost and output b. Total variable cost and output
The institutional intervention theories Collective bargaining provides an example of what is sometimes called bi- lateral monopoly; the trade union being the monopolist suppli
Q. Construction of the causal model - regression analysis? The construction of an explanatory model is a crucial step in the regression analysis. It should be defined with refe
how manager can apply scarcity and oppotunity cost in managerial decision making
“Managerial economics involves use of economic analysis to make business decisions involving the best use of a firm’s scarce resources” Explain the statement with suitable example.
The Frugal Economy In the Frugal economy, households and firms look to the future, and as a result undertake both Saving and Investment. SAVING Saving is income no
REGRESSIVE TAX A tax is said to be regressive when its burden falls more heavily on the poor than on the rich. No civilized government imposes a tax like this.
Question: a. What are the basic attributes in designing a good tax system? b. Explain briefly how tax systems affect economic efficiency. c. The trade unionists advocat
State the Traditional demand theory So an over-simplified and the most commonly stated demand function is: Dx = f (PX) thatconnotes that demand for commodity X is the function
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