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Q. What is Technical Economies?
The significant technical economies result from the use of specialised capital equipment that comes into effect only when output is produced on a large scale. Technical economies also arise from indivisibilities that are the characteristics of modern techniques of production. Or we can say that as the scale of production increases the firm reaps the benefits of mechanisation of using mass production methods. This will decrease the unit cost of production.
a) A country should always protect its domestic industries. Discuss. b) To what extent can a country actually rely on the principle of Comparative Advantage before engaging
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Objective of Fiscal Policy As an instrument of macroeconomic policy, the goals of fiscal policy are likely to be different in different countries and in the same country in dif
Assignment about law of variable proportion
What are the limitations of managerial economics
when firm can achieve optimization
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factorsw determining demand
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Q. Describe the gift exchange model of reciprocity? George Akerlof (1982) develops a gift exchange model of reciprocity in that employers offer wages unrelated to variations in
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