Explain the assumptions of Law Diminishing Returns
Explain the assumptions of Law Diminishing Returns.
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The Law of Diminishing Returns is based upon the given assumptions as follows:
Returns are based upon the given assumptions as illustrated:
a. The production technology keeps unchanged
b. Each variable factor is homogeneous.
c. Some one factor is constant
d. The fixed factor keeps constant.
Relative to evenly strong, smart, and hard-working people along with less education, and the high school graduates who invest most heavily within more advanced formal education are probable to experience lower average: (w) wages when first entering th
Explain the term average fixed cost.
Illustrates the managerial Economics according to Michael Baye? Answer: In the words of Michael Baye as this term Managerial Economics is the study of how to directl
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Rigid enforcement of “equal-pay-for-equal-work” law would: (w) raise the wage of minority workers who had been discriminated against. (x) lower the wages of “favored” non minority workers who had received higher wages before. (
Categories the cost concept of business operation and decision making?
In what condition the concept of marginal costing basically applied?
Illustrates the relatively elastic demand?
Suppose that the auto market started at the intersection of D0S0, and in that case automakers opened foreign assembly plants after discovering which competent foreign employees worked for minor wages. How would it influence the auto market?: (
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