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Q. What is Technical Economies? The significant technical economies result from the use of specialised capital equipment that comes into effect only when output is produced on
Q. What do mean by Convex Isoquant? Isoquants are convex to the origin: At any point of an isoquant,the slope is negative. Its numerical value measures the marginal rate of te
What is optimal output rule? Optimal output rule: According to the optimal output rule, describe that profit is maximized through producing the quantity of output at that th
business decision making concepts of certainity risk unertainity sources of business risk steps invoived in analysiis of risky decisions risk adjustment etc
Legal Sanction: A monopoly as stated above may be the result of a government sanction. The government of a country may legally permit a private monopoly or monopoly in the public s
explain bain''s limit pricing theory
What is Managerial economics according to Spencer and Siegelman Spencer and Siegelman: Managerial economics is "the integration of economic theory with business practice for t
Functions or Purposes of Taxation The functions of taxation can be discussed from the activities of the government it is meant to achieve. These are: a. Raise reven
Advantages of Planned System i) Uses of resources : Central planning can lead to the full use of all the factors of production, so reducing or ending unemployment. ii
Quality and Quantity Controls: Demand forecasting is a necessary and valuable instrument in the control of management of an organisation to provide finished goods of correct quant
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