Illustrates the term economic cost concept briefly
Illustrates the term economic cost concept briefly?
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Economic Cost:
It refers total of explicit cost and implicit cost. Therefore it includes the payment for factors of production (which is rent, wages and so on) and the payments for the self owned factors (as interest on owned capital, salary to entrepreneur and rent upon owned premises).
Illustrates the responsibilities of managerial economists?
Define the Econometric Methods.
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Provide a brief introduction of the term Margin of Safety?
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