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how does knowledge of economics help in maximizing profit in firm
explain production function illustrate production with one variable input
SIGNIFICANCE OF THE CONCEPT AND THEORY OF SEARCH UNEMPLOYMENT From what has been said earlier, you understand the significance of the theory of search unemployment as
Fixed Costs (FC) These are costs which do not vary with the level of production i.e. they are fixed at all levels of production. They are associated with fixed factors of p
Theories associated with different market structures A firms profit maximising output decisions take into account the market structure under that they operate. There are 4 type
Illustrate the concept of present value. The Concept of Present Value: While someone borrows money for a year, there the interest rate is the price, computed as a percent
Q. What do you mean by External Economies? External economies arise outside the firm as a result of improvement in industrial environment in that the firm operates. They are ex
PRICE ELASTICITY OF SUPPLY AND THE SLOPE OF THE SLOPE CURVE For a straight line supply curve, the gradient is constant along the whole length of the curve, but elasticity
Factors affecting the long run trend of the Terms of Trade for developing countries Most Third World countries have been faced by a fall in their terms of trade over the long
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