Illustrates the term economic cost concept briefly
Illustrates the term economic cost concept briefly?
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Economic Cost:
It refers total of explicit cost and implicit cost. Therefore it includes the payment for factors of production (which is rent, wages and so on) and the payments for the self owned factors (as interest on owned capital, salary to entrepreneur and rent upon owned premises).
Explain the external economies of scale.
From the fact which the average wages of women into the United States is lower than the average wages of men, we can estimate that women are: (1) discriminated against in hiring and pay. (2) less qualified workers than men. (3) less interested into wa
Explain short term Demand forecasting.
Explain the cost function in briefly.
Labor supply curves “bend backward” within response to overwhelmingly powerful: (i) marginal effort effects. (ii) income effects. (iii) wealth effects. (iv) derived supply effects. (v) substitution effects. Q : Pure economic rents Pure economic rents Pure economic rents for different parcels of land do not reflect differences within their: (1) marginal productivities. (2) fertility. (3) quantities of valuable minerals and ores. (4) amounts of capital improvements. (5) relative capability to reduce
Pure economic rents for different parcels of land do not reflect differences within their: (1) marginal productivities. (2) fertility. (3) quantities of valuable minerals and ores. (4) amounts of capital improvements. (5) relative capability to reduce
States the determinants of elasticity?
What are the characteristics of a business cycle?
What are the main features of managerial economics?
What is Scarcity Definition of economics?
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