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Q. Show the method of production?
A process or method of production is a combination of inputs essential for the production of output. A method of production is technically effectual to any other method if it uses less of at least one factor and no more of the other factors in comparison with another method.
Q. Define Profit maximisation theory? Profit maximisation theory defines that firms (corporations orcompanies) will establish factories where they see potential to achieve the
what are the criticisms of it
Ask questiHow does economic theory contribute to managerial decisions? on #Minimum 100 words accepted#
diagram of production function with one varaible
FACTORS RESPONSIBLE FOR WAGE DIFFERENTIALS WITHIN THE SAME OCCUPATION i. Differences in the environment: For example a doctor sent to North Eastern Province must be pai
What is an effective need of demand 1. An Effective Need: Effective need demands that there must be a need supported by the capacity and readiness to shell out. Henceforth there
What is the role of scarcity in management decisions-making
what are the limitation of managerial economics and what is the solution of it?
What is advertising elasticity? Explain
Q. Explain the Short run production function? Discussion of production up to now has ignored the time required to build production facilities. There is a requirement to take in
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