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Relevance of The Law of Diminishing Returns The law of diminishing returns is important in that it is seen to operate in practical situations where its conditions are fulfille
Define the Managerial economics Managerial economics is thus a study of application of managerial skills in economics. It assists in determining, anticipating and resolving po
The Current Account This records all transactions involving the exchange of currently produced goods and services and is subdivided into i. Visibles: A record
how does knowledge of economics help in maximizing profit in firm
Write on one theory of profit. Profit as rent of ability: one of the most widely known theories of profit was propounded by F.A. Walker. According to him profit is the rent of is t
The city of Cabernet is very popular for its production of wine. The inhabitants of the city have an aggregate demand for wine that can be described as follows: where Q d
Q. Can you explain about Demand Forecasting? Demand forecasting involves forecasting and estimating the quantity of a service or product that consumers will buy in future. It a
Ask questiHow does economic theory contribute to managerial decisions? on #Minimum 100 words accepted#
PUBLIC SECTOR BORROWING REQUIREMENT (PSBR) Public Sector Borrowing Requirement (PSBR) is the amount which the government needs to borrow in any one year to finance an excess e
Q. What do you mean by Kinked Isoquant? This isoquant presumes only limited substitutability of labour andcapital. There are just a few processes for generating any one commodi
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