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Keynesian unemployment According to Keynesian theory of income and employment, unemployment occurs due to lack of effective demand. If effective demand is less, production of
THE LAW OF DIMINISHING RETURNS (LAW OF VARIABLE PROPORTIONS) One of the most important and fundamental principles involved in economics called the law of diminishing return
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“Managerial economics involves use of economic analysis to make business decisions involving the best use of a firm’s scarce resources” Explain the statement with suitable example.
What is the theory of the firm A firm can be considered an amalgamation of people, financial and physical resources and a variety of information. Firms exist as they perform us
Define Williamson''s Model of Managerial Discretion practice?
Marginal Utility The extra utility derived from the consumption of one more unit of a good, the consumption of all other goods remaining unchanged. The hypothesis of dimin
Question: (a) Under what conditions would a central bank be considered independent. (b) Discuss the effects of delegating monetary policy making to an independent agent on
Collective bargaining Collective bargaining refers to the whole process by which trade unions and employers (or their representatives) arrive at an enforce agreements. Tra
how realistic is the sales maximisation model from your experience with business objectives as persued by firms
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