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Explain what economies of scale are and why they have become increasingly common in later years.
Economies of scale - Enhance in fixed factors, but output enhances at a proportionately higher rate than unit costs
a) Technical economies of scale - spreading of fixed costs, improved use of capital
b) Managerial economies of scale - higher efficiency in firms production units by specialisation
c) Purchasing economies - bulk buying, good customer prices
d) Marketing economies of scale - advantages of having broad brand-name recognition
e) Financial economies of scale - larger asset base for security in loans, lower interest
using the indifference curve approach explain why the demand curve slope downwards from left to right...... is there any exceptions?
what is the theory of second best?prove the theorm with the help of diagram?
Problem 1: i) To what extent can a country actually rely on the principle of Comparative advantage before engaging in international trade? ii) Explain the different types
Ask question how do I find the Price
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dicuss the relevance of studing production theory and analysis inn your career as a student of manegerial economics
Explain the difference between a stock and a flow. A stock is something whose quantity is calculated at a point in time, whereas a flow measures the quantity of something ove
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