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Suppose you are an efficient expert hired by a manufacturing firm that uses two inputs, labor (L) and capital (K). The firm produces and sells a given output. You have the following information:
PL = Rs 4, PK = Rs 100, MPL = Rs 4, MPK = Rs 40.
a) Is the firm operating efficiently? Why or Why not?
b) What should the firm do?
Illustrate about forecasting in management A forecast expert has been asked to provide quarterly estimates of the sales volume for a specific product for the next four quarters
Q. Relation between average cost and marginal cost? Relationship between MC and AC are the following: If MC is below AC then AC should be falling. This is because, if MC
distinguish between industry demand and firm demand..
how manager can apply scarcity and oppotunity cost in managerial decision making
STAGFLATION The term stagflation is a recent arrival in economic literature derived from joining together the stage of stagnation and flections of inflation. The term has been
#quest Describe the oligopoly market structure and give some examples.ion..
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
The supply of money Refers to the total amount of money in the economy. Most countries of the world have two measures of the money stock - broad money supply and narro
Ajax has the following short run cost curve when tc=800000-5000Q+100Q2
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
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