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!
• Production Function . The factors of production have to be combined in a particular manner to produce a certain product. Think of baking a cake which involves mixing fixed proportions of the ingredients, following a definite procedure. Indeed, baking a cake is production in economic terms. The set of all feasible combinations of factors of production and output levels produced by them is known as the production set.
• Short Run Production Process,
• Law of Diminishing Marginal Product: This law states that given the fixed factor of production, as the amount of the variable factor is increased, a certain stage is reached beyond which the MP declines. That is, the output produced increases but at a diminishing rate. On further increasing the variable factor, the output produced starts declining.
• Long Run Production Process: The first graph depicts the long run scenario when it is possible to vary all the inputs. The red lines represent the output produced and are called isoquants. Isoquants are the locus if the feasible combinations of inputs that produce a given amount of output.
The prevention of major swings in economic activity can be handled most easily by the: A. Household sector B. business sector C. financial sector D. government sector why?
Gross Domestic Product and Growth Rates: The rate of growth of the secondary and tertiary sectors has been more than double that of the primary sector, with the secondary sect
Suppose a government uses an expansionary fiscal policy to get out of a recession. Use the IS/LM model and the IS-PC-MR model to explain what monetary policy to pursue.
Fiera Corporation is evaluating a new project that costs $45,000. The project will be financed using 40% debt and 60% equity, thus maintaining the firm's current debt-to-equity ra
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use supply and demand diagrams, how the following markets are affected in terms of pr
concept of risk analysis
Implementation of economic policy: On the ability of civil servants and Government to learn, Government must possess the following qualities to ensure implementation of econom
how microeconomic issues maybe represented using production posibility curve
Problem: (a) Define money and briefly explain its core functions. (b) Explain the relationship between interest rate and price of bonds, illustrate using example. (c)
Homer consumes only donuts and beer. When he consumes less than 10 beers, Homer would gladly drink one more. After drinking 10 beers, Homer is so drunk that he does not notice any
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