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Q. Explain the Short run production function?
Discussion of production up to now has ignored the time required to build production facilities. There is a requirement to take into consideration the time factor in discussion on the production. So in this section we consider the behaviour of production in the long-run and short-run.
The short run is a phase in that organisation can alter manufacturing by changing variable factors like labour and supplies though cannot change fixed factors like capital.
Another vital relationship that is often referred to in economic analysis is the relationship between consumption expenditure andprice elasticity. From the law of demand, we know t
Analyse The Method By Which a Firm Can Allocate The Given Advertising Budget Between Different Media Of Advertisement
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The demand curve for the product of a monopolist is a straight line such that quantity just falls to zero at a price of Rs 20 per unit and that the maximum quantity (at zero price)
Features of Planned Economy The command economies relies exclusively on the state. The government will decide what is made, how it is made, how much is made and how distribut
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The neo-classical view The neo-classical view is that market forces are the best directors of the economy. Positive attempts by the government it is argued inevitably make th
Explain in brief the relationship between TR,AR and MR under perfect market condition.
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