Explain the external economies of scale
Explain the external economies of scale.
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External or pecuniary economies to huge size firms occur from the discounts available to this because of:
1. Huge scale purchase of raw materials
2. Huge scale acquisition of external finance at low interest
3. Lower advertising rate at fun advertising media.
4. Concessional transport charge upon bulk transport.
5. Lower wage rates when a large scale firm is monopolistic employer of exact type of specialized labour.
Therefore External economies of scale are strictly based upon experience of large –scale firms or well managed minute scale firms. Economies of scale will not carry on forever. Expansion within the size of the firms beyond a exact limit, so much specialization, inefficient supervision, offensive labour relations etc will go ahead to diseconomies of scale.
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When a firm is a price taker in the labor market, in that case the: (w) wage is constant for any quantity of labor this would hire. (x) marginal resource cost of labor is constant for any quantity of labor this would hire. (y) wage equals the marginal
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As per demonstrated in this graph, there average college graduate will earn around: (1) $12,000 yearly. (2) $20,000 yearly. (3) $45,000 yearly. (4) $90,000 yearly. (5) $100,000 yearly. Q : Raise in supply and demand and When the supply and demand for a good both raise there will be rising within the: (1) market price. (2) equilibrium quantity. (3) quality of the good. (4) profits of a monopoly firm. (5) level of consumer satisfaction. Hello guys I
When the supply and demand for a good both raise there will be rising within the: (1) market price. (2) equilibrium quantity. (3) quality of the good. (4) profits of a monopoly firm. (5) level of consumer satisfaction. Hello guys I
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When labor was free, in that case this purely competitive firm as in illustrated graph would hire. (1) 600 workers. (2) 700 workers. (3) 800 workers. (4) 900 workers. (5) 1000 workers. Q : Value of marginal product and wage rate Profit maximizing competitive firms will competitively hire supplied labor up to that point where VMP is: (w) is at its maximum. (x) equals the wage rate. (y) minus MRP is minimized. (z) minus W is at its maximum.
Profit maximizing competitive firms will competitively hire supplied labor up to that point where VMP is: (w) is at its maximum. (x) equals the wage rate. (y) minus MRP is minimized. (z) minus W is at its maximum.
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