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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.
What do you mean by the utility function? The Utility Function: Sometimes this is easier to work directly along with the preference relation and its connected sets. Althou
how can draw the table and diagram of production function function with one veriable
Analyse the strengths and weaknesses of GDP as a measurement. Answer Strengths of GDP as a measurement 1) It helps in making international comparison among different
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Question 1: The socio economic development of Mauritius has been marked by growth cycles, representing different approaches adopted by Government to meet the internal as well
The idea for the national accounts came during the 1930s depression in the U.S., when decision-makers wanted to get a better sense of by how much economic production had fallen. Si
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Why demand curve is always negative and write its effects.
Elasticity of Price Expectations (epe)
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