Illustrates the case of customary pricing with details
Illustrates the case of customary pricing with details?
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Customary pricing:
Under the case of several commodities the prices get fixed since they have prevailed over a long period of time. For illustration as: the price of cup of tea or coffee. Under short the prices are fixed through custom. The price will vary only while the cost changes significantly. This is also termed as conventional pricing.
Explain the assumptions of Law Diminishing Returns.
Illustrates the elements of managerial economics as a tool for decision making?
If the wage rate increases from $25 per hour to $40 per hour, in that case the elasticity of the supply of labor from this worker is roughly: (i) zero. (ii) 7/15. (iii) 13/15. (iv) one. (v) minus 13/15. Q : How is the Demand forecasting important How is the Demand forecasting important?
How is the Demand forecasting important?
Illustrates the real concept briefly?
What are the types of business cycle?
If hiring hundred extra workers increases the firms total cost through $10,000, and each extra worker increases output from 50 units, in that case on the average: (w) profit will fall by $10,000. (x) the value of the marginal product of labor is $10,0
Increasing the wage from $9 to $15 will cause Plastibristle’s total hourly wage payments to: (w) rise by about $900. (x) rise by about $1500. (y) fall by about $900. (z) fall by about $1500. <
States the Scarcity Definition in economics?
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