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!
Explain the Theory of Production
Cost and Production analysis is central for the unhampered functioning of the production process and for project planning. Production is an economic activity which makes goods available for consumption. Production is also described as a sum of all economic activities except consumption. It is the process of creating services or goods by utilising numerous available resources. Achieving a certain profit needs the production of a certain amount of goods. To attain such production levels, some costs have to be incurred. At this point, management is faced with the task of determining an optimal level of production where average cost of production will be minimum. Production function displays the relationship between quantity of a service/good produced (output) and resources or factors (inputs) used. The inputs used for producing these services and goods are known as factors of production.
Determine the Income Effect of law of demand As a result of fall in the price of a commodity, real income of its consumer increase at least in terms of this commodity. Or we c
Bain''s limit pricing theory advantages and disadvantages
Actual income and Full employment income Full employment income (Also called Potential National) is the national income that could be produced when the country's factors of pr
The most significant uses of the price elasticity of demand, used specifically in business decision-making. It refer to the relationship between price elasticity and the marginal c
how equilibrium output can be find in williamson model
Individual and market demand schedule The plan of the possible quantities that will be demanded at different prices by an individual is called Individual demand schedule. Su
what does it mean?
Utility Utility is the amount of satisfaction derived from the consumption of a commodity or service at a particular time. Utility is not inherent but a psychological satisfa
Income and Substitution Effects of Price Change When the price of a commodity falls the consumer's equilibrium changes. The consumer can purchase the same quantity of X and Y
Real and nominal wages Wages are wanted only for what they will buy, real wages being wages in terms of the goods and services that can be bought with them. Nominal wages
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: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd