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# review of Article what can economic theory contribute to managerial economic#
briefly explain oppurtunity cost in decision making?
Q. Illustrate about Pecuniary economies? Pecuniary economies (which is monetary economies) are those economies accrued by the firm from paying lower prices for the factors used
Define theVariable factor of production The input level of a variable factor of production can be diverse in the short run. Raw material inputs are believed as variable fact
Properties of Indifference Curves An indifference curve is usually convex to the origin. Indifference curves slope downwards from left to right. A set
calculate point elasticity of demand for demand function q=10-2p for decrease in price from rs 3 to rs 2
Q. Explain Discrete-event simulation? Discrete-event simulation: Operation of a system is signified as a chronological sequence of events. Every event take place at an instan
introduction, evaluation,principle, activities concept behind Gatt & wto
TC=100+0.15Q, Qu=1000-10Pu
Q. Explain about Linear Isoquant? : In this case, isoquant would be straight lines as in Figure below. This type presumes perfect substitutability of factors of production. I
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