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What is the equilibrium in the labor market? Explain briefly.
Equilibrium in the Labor Market
a. The market labor of demand curve is the horizontal total of the individual labor demand curves of all makers.
b. Labor is paid equilibrium value of this at the marginal product, and the value of the marginal product of the previous worker hired into the labor market as an entire.
What is the role of scarcity in management decisions-making
incrimental principle
Explain cost output relationship with reference to: a. Total fixed cost and output b. Total variable cost and output
define scarcity and opportunity cost..
what is monotonisty
mini project on demand function
Q. Discovery of new technical know-how? Growth of Technical Know-how: Expansion of an industry may result in the discovery of new technical know-how. As a result of this firm
applicatiopn of qt in managerial decision making
Explain the demand for a commodity The functional relationship between demand for a commodity and its various determinants may be expressed mathematically in terms of a demand
Question: i) If X and Y are different processes producing the same commodity and the joint total cost (TC) is given by: TC = X 2 + 2Y 2 - 3XY Using Lagrange Multiplier,
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