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Q. What is Internal Diseconomies of Scale?
Internal economies of scale exist only up to a certain size of the plant. Size of plant is called the optimum plant size since with this size of plant all possible economies of scale would be fully exploited. If the size of plant increases beyond this optimum size there arise diseconomies of scale (which implies decreasing returns to scale) especially from managerial diseconomies. It is claimed that technical diseconomies can be avoided by duplicating the optimum technical size of the plant.
The Social Cost of Unemployment i. For the individual, there is the demoralizing effect which can be devastating particularly when they are old. This is because as some
explain production function illustrate production with one variable input
a) The following would most likely shift a production possibilities curve to the right? b) Money should not be considered an economic resource ? c) Which of the following is
What are the significant tools of the perfect competition and the supply curve? Perfect Competition and the Supply Curve: a. In Perfect competition the characteristics of a
if market demand is Q= 30 - 3P how do you write the marginal revenue function as a function of Q
Q. Explain about Delphi method? Delphi method: This is a systematic, interactive forecasting method that depends on a panel of experts. Experts answer questionnaires in two o
You have recently gained employment with a computer consultancy company. Due to your specialist knowledge in the areas of Human Factors and usability, your manager considers that y
Pragmatic Managerial economics Managerial economics is pragmatic. In pure micro-economic theory, analysis is performed, based on certain exceptions, which are far from reality
FACTORS RESPONSIBLE FOR WAGE DIFFERENTIALS BETWEEN OCCUPATIONS The major cause is demand and supply for the particular labour concerned, but other causes could be: i.
A MATHEMATICAL APPROACH TO REVENUE AND COST FUNCTIONS Recall that TR = P x Q This implies that P(AR) = TR Q For example, assuming
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