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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.
What will be the table of total cost function?
It indicates the amount of output by that long run output of the firm under monopolistic competition falls short of the Ideal output. This is regarded as wastage in monopolistic co
State the Fixed factor of production Input level of a fixed factor can't be varied in the short run. Capital falls under the category of fixed factor. Capital alludes to resour
The aim of monopolist is to maximise profit therefore; he would produce that level of output and charge that price which gives him maximum profits. He would be in equilibrium at th
Gains From International Trade The gains from International trade are to make the participating countries better of than they would have otherwise been. This will be the res
Organization for Economic Development (OECD) An international organization found in Paris France in 1961, to act as a worldwide forum to stimulate world trade and
Commercial Banks A Commercial Bank is a financial institution which undertakes all kinds of ordinary banking business like accepting deposits, advancing loans and is a member
Explain the role scarcity of resources plays in economics decision making
demand for sting ray
Question 1: "Anyone who is willing to learn the language of economics and take the time to practice making decisions can learn to be an effective manager." Explain how. Qu
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