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.
What are the economic implications of income inequality? How can economic theory be helpful to analyze the causes and impact of income inequality? What are the concerns and how the
Rational Expectations- Inflation Unemployment Trade-off : Now, consider what happens if we suppose that workers have rational expectations about the rate of inflation First, th
Business Meeting Etiquette: Before meetings, the correct way to arrange a meeting is to take an appointment 3 to 4 weeks before, even though it is known that generally gatherings w
#question.what is the periodc clasification?.
Another school of thought developed what is called loanable funds theory of interest. Among the principle economists who contributed to the development of loanable funds theory men
what is the profit maximising quantity of L
You should find two articles, of which one should report on changes that make farming more productive (more food per acre, hour or other unit of inputs), and another about changes
The definition of a price maker is a "firm with some power to set the price because the demand curve for its output slopes downward", which in effect, means those firms with a down
Ask question how do I find the Price
NETWORK EXTERNALITIES Till this point we have assumed that people's demands for good are independent of each other. Actually, a person's demand can be affected by the number
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