What are the certain assumptions in production functions
What are the certain assumptions in production functions?
Expert
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.
An unexpectedly good agricultural harvest because of the: (w) profits of most speculators to soar. (x) population growth rate to accelerate. (y) market demand and price to increase. (z) quantity of food demanded to develop. I need
Illustrates the pricing policy and practices?
Illustrates the ways in managerial economics bridges between real business practices and traditional economic theory?
States the implicit cost concept briefly.
The labor supply curve facing a firm or industry is all the time upward sloping still when individual labor supply curves are backward bending since: (w) at higher wages everyone will supply more hours of work. (x) firms never pay wag
Illustrates the factors changes in demand?
Explain the Expenditure Method of Measurement of Elasticity.
Explain the decision making areas of the decision making.
Illustrates the term Demand Function?
Provide a brief introduction of the term Margin of Safety?
18,76,764
1924649 Asked
3,689
Active Tutors
1452272
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!