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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.
The following contains cost and benefit information for two different alternatives for a w capital investment in computerized process technologies to control the process at a manuf
what is the uses of production functns?
Consider the following hypothetical story: Last spring, there was an outbreak of a nasty disease known as cyclosporiasis, which was eventually traced to Guatemalan raspberries. Tog
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The institutional intervention theories Collective bargaining provides an example of what is sometimes called bi- lateral monopoly; the trade union being the monopolist suppli
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