Explain the assumptions of Law Diminishing Returns
Explain the assumptions of Law Diminishing Returns.
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The Law of Diminishing Returns is based upon the given assumptions as follows:
Returns are based upon the given assumptions as illustrated:
a. The production technology keeps unchanged
b. Each variable factor is homogeneous.
c. Some one factor is constant
d. The fixed factor keeps constant.
States the Extrapolation statistical Method of Demand Forecasting?
Illustrates the important leading indices?
When the income effect of a higher wage rate is extremely powerful in that case the substitution effect, the: (1) supply curve of labor will be positively sloped. (2) demand for leisure increases like income rises. (3) human capital effect is stronger
Illustrates the important question regarding the managerial economics?
A potential employee’s accumulation of certificates and degrees to stimulate interest through a potential employer is termed by economists as: (1) specific training. (2) signaling. (3) general training. (4) screening. (5) ticket-punching. <
The supply curve of the labor is negatively sloped over wage ranges where the: (1) the demand for leisure rises along with income. (2) leisure is an inferior good. (3) people offer more hours of labor at higher wages. (4) some people
identify two goods consumed by the majority of the neighborhood communities. Qn. establish the equilibrium of the consumers of the two goods
Explain about the term survey techniques.
Illustrates the causes of business cycle?
Illustrates the opinion of Samuelson for explaining Law of Demand?
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