Revenue Concept - Cost Concept
Define the Revenue Concept in brief.
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Revenue means the current income or only sales receipts. Conversely, this is the money value of output sold within the market. Moreover this has great relevance in economics and business.
Categories the cost concept of business operation and decision making?
Economic rent shows part of the payment for the utilization of: (w) landowners’ labor and capital to keep their land. (x) landowners’ buildings and equipment. (y) resources for that supplies are less than perfectly elastic. (z) any piece o
Explain about the term Recovery in phases of business cycle.
A firm’s demand for labor tends to be additional wage-elastic while: (1) the price elasticity of demand for output is greater. (2) substituting capital for labor is harder. (3) unskilled workers join unions. (4) labor costs are
Illustrates the term Elasticity?
Diminishing returns to labor or questions of monitoring and coordination start to overwhelm any gains by specialization and division of labor within this graph at: (1) point a. (2) point b. (3) point c. (4) point d (5) point e.
Explain the chief characteristics of managerial or business economics.
For labor Plastibristle’s demand is most wage elastic at: (1) point a. (2) point b. (3) point c. (4) point d. Q : What are the types of elasticity of What are the types of elasticity of demand?
What are the types of elasticity of demand?
Help to achive the other objectives of the firm like industry leadership,expansion implementation of policies
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