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Q. Discovery of new technical know-how?
Growth of Technical Know-how: Expansion of an industry may result in the discovery of new technical know-how. As a result of this firms may be able to use improved and better machinery that will increase the productivity of the firms and consequentlydecrease the cost of production.
In 2006, a hospital with 130 beds had 8,795 admissions. The average length of stay?for every patient was 4.7 days. Assuming full capacity is 100 percent, detremine the occupancy ra
Importance of Income Elasticity If a country is experiencing economic growth, the income of the people will increase. However, for those engaged in the production of goods wi
Explain about Pragmatic Managerial economics is pragmatic. In pure micro-economic theory, analysis is performed based on certain exceptions that are far from reality. Though in
What is decreasing marginal cost? All additional lawn mowed generates less benefit than the earlier lawn à along with decreasing marginal benefit; every additional unit generat
want assignment on Elasticity of Demand:
determination of size of firm
Michael was discussing the importance of production analysis and cost analysis to managerial economics with a final year Open Campus student. The final year student, Catherine, sta
Q. Explain about Isoquant Map? We can label isoquants in physical units of output without any difficulty. Because every isoquant signifies a specified level of output it's poss
Individual firm and market supply curves The quantities and prices in the supply schedule can be plotted on a graph. Such a graph is called the firm supply curve. A fir
Q. Illustrate about Sales maximisation? The concept that business firms (specifically those operating in the real world) are principally goaded by the aspiration to achieve the
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