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Q. Explain about Managerial Economies?
Large scale production makes possible the division of managerial functions. So there exists a production manager, a finance manager, asales manager, a personnel manager and so on in a large firm. Though all or most of the managerial decisions are taken by a single manager in a small firm. This division of managerial functions increases their efficiency. Decentralisation of managerial decision making also increases the efficiency of management. Large firms are also in a position to introduce mechanisation of managerial functions through the use of computers, telex machines and so on. Therefore as output increases the managerial costs per unit of output continue to decline.
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Technically Efficient Method of Production Let's suppose that commodity X is produced by two methods by employing capital and labour: Factor inputs Met
what is cardinal and ordinal utility?.
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In regards to air pollution, use a diagram to show and explain how the existence of pollution can make the market equilibrium inefficient.
excise tax and its impact on manufacturing industry with respect to demand and supply curves
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