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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 external to the firm though internal to the industry to which the firms belong. They may be realised from actions of other firms in the same industry or in another industry. Their effect is to cause a change in the prices of factors used by the firm. They cause a shift in the long-run and short-run cost curves of the firm.
Explain trend projection method of demand forecasting with illustration.
howw much should the firm produce to maximize its profits
assumptions and limitations
In this question you will consider the impact on the building industry of the earthquake. Two construction and materials indices have been provided for the analysis. If your famil
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Estimating economic relationships Managerial economics estimates economic relationships between various business factors likeelasticity of demand, income, profit analysis, cos
Ingrid and Jeff would like to use Saturday night together but have dissimilar tastes in entertainment. Jeff would like to go to the opera but Ingrid would prefer to see soccer. As
Traditional theoretical concepts to actual business behaviour Accommodating traditional theoretical concepts to actual business behaviour and conditions: Managerial economic
factors affecting demand forecasting
What are terms included in oligopoly? Oligopoly includes: • The meaning of oligopoly, and why it arises • Collusion • Game theory, particularly the concept of the pris
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