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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.
calculate point elasticity of demand for demand function q=10-2p for decrease in price from rs 3 to rs 2
Real and nominal wages Wages are wanted only for what they will buy, real wages being wages in terms of the goods and services that can be bought with them. Nominal wages
The Budget line and its economic interpretation The indifference curve shows us consumer preferences but it does not show us the situation in the market place. Here the consu
Practical Importance of the knowledge of Price Elasticity of demand The practical importance of the measures of elasticity of demand is to be appreciated in various ways:
The theory of consumer's behavior seeks to explain the determination of consumer's equilibrium. Consumer's equilibrium refers to a situation when a consumer gets maximum satisfacti
How do I do a log linear regression in excel
present a detailed discussion of the principles of managerial economics
THE LAW OF DIMINISHING RETURNS (LAW OF VARIABLE PROPORTIONS) One of the most important and fundamental principles involved in economics called the law of diminishing return
neoclassical thinking assumes that all firms are established to make profit has been challenged by managerial discretion model.How successful have been these models to maximize pro
Causes There are a number of explanations of the business cycle but changes in the level of investment seem to be the most likely. In the simplest Keynesian model an increase
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