Illustrates the term long run production function
Illustrates the term long run production function?
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The long run refers to a period of time wherein “supply of all the input is elastic; however not adequate to permit a change in technology. Under the long run, the availability of even fixed factor increases. Therefore in the long run, production of commodity can be raised by employing more of both, fixed and variable inputs.
Explain the accounting cost concept in brief.
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If all else regarding two occupations are relatively equal, then wages tend to be lower for jobs which: (1) require important education and training. (2) expose the worker to bad weather. (3) require extended periods away from home. (4) pose health and safety hazards
CD sales have fallen from 2000, although sales of DVDs have increased, suggesting such that: (w) supply of prerecorded music should have fallen. (x) law of demand does not apply to the music market. (y) demands of many consumers adjusted to new technology. (z) music i
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Please help me to solve the problem of economic that is given below: Economic capital would comprise: (w) corporate bonds. (x) money. (y) machinery. (z) sports cars. Can someone
What are the important areas of decision making?
Profit-maximizing firms which operate in competitive resource and output markets adjust labor inputs till the wage rate equals the: (1) average revenue from output. (2) output price equals average variable cost. (3) marginal utility o
Landscaping a garbage dump along with topsoil, grass and trees to construct a golf course is an illustration of creating new: (i) capital. (ii) land. (iii) employment. (iv) economic profits. (v) natural resources. Please guys help
Provide a brief introduction of the term Marginal Costing? And also write down the essential suppositions made by Marginal Costing?
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