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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.
Government Policy Business Cycle Business cycles create instability in the economy. The period of boom or rising business activities is characterised by increase in output, emp
Perfect competition has the following characteristics: 1. Large number of firms - There are a large number of firms in the market. Due to this each firm produces a very small fr
criticism of cournot model
Learning Curve in Practice * Scenario - A new firm enters chemical processing industry. * Do they: 1) Produce a low level output and sell at high price? 2) Produce
what are the types of microeconomic analysis?
Economic growth and Economic development: Economic Growth refers to an increase in real aggregate output (real GDP) reflected in increased real per capita income.A country is
suppose either computers or televisions can be assembled with the following labor inputs: units produced: 1 2 3 4 5 6 7 8 9 10 total labor used: 3 7 12 18 25 33 42 54 70 90 Draw th
Distinguish between the terms of trade and the balance of trade. Basic explanation of the terms of trade as the average price of exports in relation to the average price of imp
Marketing Economies: These are derived from the bulk purchasing of inputs and bulk distribution of outputs. A large firm is able to buy its raw materials in larger quantities
Capital Gain: A capital gain is a form of profit which is earned on an investment by re-selling an asset for more than it cost to buy. Assets that can be purchased for this purpose
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