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Q. Explain about isocost line? In economics, an isocost line signifies all combinations of inputs that cost the same total amount. Though, similar to the budget constraint in c
Explain the concept of externality in economics? Give one example of a positive and a negative externality in Australia.
Explain about the terms in perfect competition. Perfect Competition: a. A price-taking producer is a maker whose actions have no consequence onto the market price of the g
marris'' model of managerial enterprise?
“Managerial economics involves use of economic analysis to make business decisions involving the best use of a firm’s scarce resources” Explain the statement with suitable example.
Q. What is the economic role of government? What are the roles? Meaning: economic role is the role played by the government in uplifting the economy. The important roles: 1.
Q. Avoiding Surplus and Inadequate Production? Demand forecasting is essential for the new and old organisations. It is somewhat necessary if an organisation is engaged in larg
Intended or planned Investment Expenditure on investment depends on business expectations on the chance of making profits and on the availability of funds for the purchase of p
monopolistic competition
Opportunity cost is cost of a different that must be forgone in order to pursue a definite action. Put another way, the advantages you could have received by taking an alternative
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