Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Q. Explain about Long run production function?
Long run is a phase adequately long so that all factors together with capital can be changed.
The factors that can be increased in the short run are known as variable factors, because they can be easily changed in a short period of time. Henceforth the level of production can be increased within the limits of existing plant capacity during the short run. So the short run production function proves that in short run the output can be increased by altering the variable factors, keeping fixed factors constant. Or we can say that in the short run output is produced with a given scale of production, which is, with a given size of plant. Behaviour of production in the short-run where output can be increased by increasing one variable factor keeping other factors fixed is known as law of variable proportions. Size of plant can be varied in the long run and, hence, the scale of production can be varied in the long run. Long run analysis of the laws of production is referred to as laws of returns to scale.
Is Indian companies running a risk by not giving attention to cost cutting?n..
Q. Explain Supernormal Equilibrium? Supernormal Equilibrium: E is the point of stable equilibrium as MC = MR and MC cuts the MR from below. Figure: Supernormal Equ
effects and implication of taxation in relation to managerial economics
show diferent auothers
A monopolist faces a straight line demand curve which passes through the point Rs 10 per ton on the price-cost axis and through the point 8000 tons on the quantity axis. The fir
Northern Lumber operates a large lumber-processing mill in a small town in Washington State. It is one of the larger lumber producers in the region and has some market power in th
Practical Importance of the knowledge of Price Elasticity of demand The practical importance of the measures of elasticity of demand is to be appreciated in various ways:
A firm can produce steel with or without a filter on its smokestack. If it produces without a filter, the external costs on the community are $500,000 per year. If it produces with
NATIONAL DEBT Taxation does not often raise sufficient revenue for the Government Expenditure. So, governments resort to borrowing. This government borrowing is called Publi
Marginal Revenue Marginal revenue is the additional revenue an organization receives resulting from the sale of one more item of output. Marginal revenue is calculated by takin
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd