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What is optimal output rule?
Optimal output rule:
According to the optimal output rule, describe that profit is maximized through producing the quantity of output at that the marginal cost of the final unit produced is equivalent to its marginal revenue.
definition of total revenue,marginal revenue,average revenue
Q. Explain about isocost line? In economics, an isocost line signifies all combinations of inputs that cost the same total amount. Though, similar to the budget constraint in c
different types of markets and role in managerial economics
Quality and Quantity Controls: Demand forecasting is a necessary and valuable instrument in the control of management of an organisation to provide finished goods of correct quant
Development of Transportation and Marketing Facilitates: The expansion of an industry may expedite the development of transportation and marketing facilities that will decrease th
Drafting of Production Policy: Demand forecasts assists in drafting appropriate production policy so that there may not be any space between future demand and supply of a product.
Explain trend projection method of demand forecasting with illustration.
Consumer Demand is how much of something that consumers are wanting. A company requires to know the consumer demand so they know how much of a product to build.
Illustrate the application of economic theory to some business problems
Industry Paper: As a partial requirement for this course, you will have to submit a paper on an Industry of your choice. This is a highly structured paper, which consists of: 1.
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