Illustrates the fixed and variable inputs in economics
Illustrates the fixed and variable inputs in economics?
Expert
In economic sense, a fixed input is one that supply is inelastic in the short run. Thus, all of its users can’t buy more of it in short run. Theoretically, all its users cannot utilize more of this in the short run. When one user buys more of this, some other users will find less of this. A variable input is explained as one whose supply within the short run is elastic, for example: Labour and raw materials.
All the users of these factors can make use of larger quantity in the short run. As in technical sense, a fixed input keeps fixed as constant up to an exact level of output while a variable input changes with change in output. A firm consist of two types of production function as follows:
1. Shot run production function and
2. Long run production function
States the term Demand Estimation.
When an exceptionally warm winter caused the quantity of cashmere sweaters supplied to exceed the quantity demanded at the present market price, in that case: (1) cashmere sweaters will be more heavily demanded subsequent year than this year. (2) an overload of cashme
Job applicants make use of polished resumes explaining education, work experience and skills, accompanied from supportive letters of recommendation letters like tools in a process economist’s call: (1) adverse selection. (2) signaling. (3) human
Illustrates the steps in formulating pricing policies in details?
The concept that employers artificially utilize formal training and education while screening job applicants to make hiring decisions is termed as: (w) nepotism. (x) formalism. (y) human capital discrimination. (z) credentialism. Q : What are the scopes of managerial What are the scopes of managerial economics?
What are the scopes of managerial economics?
Illustrates the significance of elasticity?
After vacationing hundreds of restaurants, then a restaurant critic has concluded which in almost all the workers who clear tables and also wash dishes appear to be illegal aliens by Mexico. The critic has observed a phenomenon termed as: (1) marginalized labor. (2) t
Labor supplies depend on wage rates and also: (w) labor force participation and capital availability. (x) worker skills and preferences regarding employment. (y) technology and the price of output. (z) labor force participation and derived demand.
Illustrates the price and output decisions in Monopolistic Competition?
18,76,764
1961244 Asked
3,689
Active Tutors
1429576
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!