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Q. Explain about Inventory Economies?
Inventory Economies:Role of inventories is to aid the firm in meeting random changes in the output and the input sides of the operations of the firm. Purpose of inventories is to smooth out the supply of outputs and the supply ofinputs.
Inventories on spare parts, raw materials and finished products increase with the scale of production though they don't increase proportionately with the increase in size of output. Hence as the size of output amplifies the firm can hold smaller percentage of inventories to meet random changes.
needs for capital budgeting
Broader the range of other uses of a commodity, higher the price elasticity of its demand intended for the fall in price though less elastic for the increase in price. As price of
How does economic theory contribute to managerial decisions?
FACTORS RESPONSIBLE FOR WAGE DIFFERENTIALS BETWEEN OCCUPATIONS The major cause is demand and supply for the particular labour concerned, but other causes could be: i.
Schumpeter Description According to Schumpeter, a cycle represents wave like deviations in business activity from the equilibrium or trend line. There are equilibrium points an
A. Write a detailed essay on the importance of economics to managers. OR What is the role of managerial economics in organizations ? B. What are the methods of measuring nation
outline of this assignment
define equi marginal principle
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
Where does the firm Operate? The firm will avoid stages I, II and III and will instead choose stage II. It will avoid stage I because this shall involve using the fixed facto
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