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LONG PERIOD ANALYSIS:
Long period refers to a time when all the factors are variable. Earlier in the short period analysis, we had considered capital (K) to be fixed factor. Here in this part, we assume both L and K to be variable factors. Therefore, the production function would be:
q = F(L, K)
The producer can now employ L and K units at her will to produce output q as per the production technology. Therefore, in the K - L input space the producer can choose any combination of K and L to produce output.
isoquants curve shows
draw the supernormal curve
f(x1 x2,x3,x4) =min(x1/4x22/3,x3+2x4)
Advocacy of Globalisation: In support of the movement for globalisation, the following arguments are put forth: i) Globalisation promotes foreign direct investment and, thu
Using tools of indifference curve, highlight on consumption in business economics.
There are 2 brands of cell phones that are almost identical except for some minor features: the A-Phone and the Pomegranate. Part I Draw the demand curve for the A-Phone. Explain
Market demand and supply of a good is shown by QB = 2,160 - 180P and QS = -2400 + 300P where QD, QS and P stand for quantity demanded, quantity supplied and price respectively. (a
mang ki loch kya hai
Physical Capital: A tangible tool, machine, building or other productive asset that is used to produce other goods or services. Pollution: Many economic activities involve disch
what is basing point
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