Illustrates the term shot run production function
Illustrates the term shot run production function?
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Shot run refers to a period of time wherein the supply of exact inputs (for example: plant, machines, and building) are inelastic or fixed. Therefore, an increase in production during this period is possible only through increasing the variable input. In several Industries, short run may be a matter of few weeks or some months and in some others this may extent still up to three or more years.
Illustrates the differences between Sunk Cost and Incremental cost?
States the term Demand Analysis?
All else equal, employees will eventually be less productive: (w) the greater is the amount of physical capital. (x) when they receive more certain training and less general knowledge. (y) if the wage rate is increased. (z) as more and more people are put on an assemb
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
In an entirely employed food-and-clothing economy, continual equivalent reductions in food output generally will make it: (1) Essential to decrease clothing output uniformly. (2) Probable to generate successively bigger increases in clothing output. (
Average female wages are historically beneath the average for male workers due to: (w) concentration in low income occupations. (x) placement in low status job positions. (y) lower admission in professional schools and skilled trades.
Define the term business forecasting briefly.
What is pricing strategies?
Illustrates the plethora of definitions regarding subject matter of economics?
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