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What is increasing marginal cost? Felix’s marginal cost is greater the more lawns he has previously mowed. It is, every time he mows a lawn, the extra cost of doing still anoth
Describe the Forecasting method in managerial economics It is a technique or a method to predict many future aspects of a business or any other operation. For illustration, a r
DIRECT TAXES A direct tax is one where the impact and incidence of the Tax is on the same person e.g. Income Tax, death or estate duty, corporation taxes and capital gains
Q. Product of marginal revenue? MRPL is the product of marginal revenue and marginal product of labour or MRPL = MR x MPL. • Derivation: MR = ?TR/?Q MPL = ?Q/?L
Explain important terms of marginal productivity and wage inequality Marginal Productivity and Wage Inequality: a. Market power • Compensating Differentials • Dang
Mrs John Robinson- 'Oligopoly is market situation in between monopoly and perfect competition in which the number of sellers is more than one but is not so large that the market pr
How is marginal analysis lead to profit-maximizing quantity of output? Marginal Analysis leads to Profit-Maximizing Quantity of Output: The price-taking firm’s optimal outpu
CONCEPT AND PHASES OF TRADE CYCLE Broadly speaking, the trade or business cycles are those fluctuations which recur in economic activity with a certain degree of regularity fo
Disadvantages of Barter Trade It is impossible to barter unless A has what B wants, and A wants what B has. This is called double coincidence of wants and is difficult t
Variable Reserve Requirement (Cash and Liquidity Ratios) The Central Bank controls the creation of credit by commercial banks by dictating cash and liquidity ratios. The ca
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