What are the certain assumptions in production functions
What are the certain assumptions in production functions?
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The production functions are based upon exact assumption as follows:
a. Ideal divisibility of inputs and output both;
b. Restricted substitution of one factor for the others and
c. Constant technology; and
d. Inelastic supply of fixed factors within the short run.
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For labor Plastibristle’s demand for labor is least wage elastic at: (i) point a. (ii) point b. (iii) point c. (iv) point d. Q : Concept of marginal costing In what In what condition the concept of marginal costing basically applied?
In what condition the concept of marginal costing basically applied?
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answer written below is correct for the question detail exception of demand curve ?
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