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Managerial Economies:
These are many managerial economies associated with large-scale production. A large firm is in the position to employ more highly qualified and specialist managers (such as production manager, marketing manager, financial manager, etc.) to man the various departments of the firm. Large firms can also mechanize managerial activities by introducing the usage of improved devices such as computers, telephones, fax, e-mail, etc. Opportunities are also made available for the training of young potential career managers for the firm. These economies lead to increased output and lower per unit cost of production.Economies of research and development:
All things being equal, larger firms make greater profits and can set aside some of these profits for research and develop the product.
keynsian cross model
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national income and what is used to measure it
Amartya Sen''s concept of poverty and welfare.
A surplus on the current account of balance of payments can be financed by? 1. Inflow capital on capital account 2. A surplus on the government budget deficit 3. lending abroad on
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lung run eqiulibrium
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