State the laws of production
State the laws of production.
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Production function demonstrates the relationship between a specified quantity of input and maximum possible output of it. Given the production function and the relationship among additional quantities of input and the additional output can be simply obtained. Such kind of relationship yields the law of production.
The conventional theory of production studies the marginal input-output relationship in (a) Short run and (b) long run.
When an economic alteration makes one person better off whereas no one else is affected, then this is: (w) efficient to make the change. (x) traumatic to make the change. (y) neither good nor bad for society. (z) strictly a positive value judgment to
Illustrates the pricing policy and practices?
Increasing the wage rate increases total wages received through workers when the demand for labor is: (w) relatively elastic. (x) relatively inelastic. (y) unitarily elastic. (z) perfectly elastic.
During a competitive resource market, every firm confronts a resource supply curve which is: (w) upwardly sloped. (x) backward bending. (y) perfectly inelastic. (z) perfectly elastic. I need a good
The costs of investing within human capital are probably to be borne by the employee when human capital a worker obtains “on the job” is: (1) general. (2) marginal. (3) precise. (4) generic. (5) specific. Q : Internal factors in governing prices What are the internal factors in governing prices?
What are the internal factors in governing prices?
Explain about the term Boom in phases of business cycle.
The substitution effect of a small change within the wage rate dominates the income effect for that worker at each wage rate: (w) exceeding $5 per hour. (x) between $5 per hour and $24.99 per hour. (y) exceeding $25.01 per hour. (z) b
Does managerial economic as a tool for Forward Planning? Explain this term briefly.
Illustrates the term Dumping?
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