Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Technical Economies:
They are economies that accrue from the use of large machines with emphasis on full utilization and efficiency in production. First, there are some equipment which are available only in certain minimum sizes, and unless the plant acquisition and usage will permit the production or at least these minimum output levels of production, it will not be economical to acquire them.Secondly, large-scale production, it will not be economical to acquire them. Secondly, large-scale production allows for the specialization of different sets of equipment for the different phases of the firm’s activities. This reduces the cost (i.e. time and money cost) involved in setting and re-setting the same equipment for different functions. Thirdly, the firm can have a standby machine as an insurance against any form of equipment breakdown.Also, the specialization of machines aids the further development of division of labour. These benefits derived by the firm from such approach to production lead to substantial economies of scale thereby by the firm from such approach to production lead to substantial economies of scale thereby reducing the unit cost of output produced.
Functions of Money Money performs several important functions. It serves as a medium of exchange, a unit of account, a store of value and a standard of deferred payments. In a
How might one measure differences in living standards between less developed and developed countries? This is a very wide question where any clear and relevant calculate shoul
Isoquants * Assumptions - Food producer has 2 inputs Labor (L) & Capital (K) * Observations: 1) For any level of K, output increases with L. 2) For any
Which of the following statements is correct? a. Consumers have the ability to buy everything they desire. b. A consumer''s budget line shows the limits to what a consumer can buy.
Economic Development The word development is from the Latin root ‘Voloper’ which meant wrap up, envelop. The English used this word along with ‘des’ meaning ‘undo’. The word
#questionLook up the real GDP of the U.S. for the 4th quarter of 2007 and compare it with the real GDP for the 2nd quarter of 2012. What does this tell you about the performance of
Suppose one were asked to recommend a price for the output of a proposed downtown parking garage, so that the project would have as large a Net Present Value as possible. In this
Illustrate and discuss the impliction of various market structures(competitive and non-competitive)
2) Proctor & Gamble (P&G) and the Lever Co. decide to form a laundry detergent cartel for future sales in Europe. Lever is more efficient than P&G. a)illustrate graphically how the
subsitution effect dominate tha income effect in which good case?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd