States the term Production
States the term Production?
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In Economics the term production implies process by that a commodity or commodities transformed within to various usable commodities. Conversely, production implies transforming inputs (as labour, raw materials and machines.) into an output. Such kind of production is termed as manufacturing. However the production process does not necessarily include physical conversion of raw materials in to tangible goods.
This also contains the conversion of intangible inputs to intangible outputs. For illustration, production of legal, social, consultancy services and medical services, there lawyer doctors, social workers consultants all are all engaged in producing intangible goods. An input is service or good which goes within to the process of production and output is any good service which comes out of production process.
When the ratio of the price elasticity of demand of a taxed good associate to its price elasticity of supply increases, tax is: (w) revenue will fall when tax rates are raised. (x) hikes will cause buyer's total outla
Explain the steps for demand estimation.
If this firm maximizes profit, this will be producing under circumstances of: (1) increasing returns to labor. (2) economies of scale. (3) diminishing returns to labor. (4) constant returns to labor. (5) adverse selection and moral hazard. Q : Highest income of supply of labor This This worker’s weekly income in this demonstrated figure would be the highest at: (w) point a. (x) point b. (y) point c. (z) point d. How can I solve my Economics problem? Please suggest me the correct answer.
This worker’s weekly income in this demonstrated figure would be the highest at: (w) point a. (x) point b. (y) point c. (z) point d. How can I solve my Economics problem? Please suggest me the correct answer.
what is that policy that talks about not changing the policy frequently?
The expected losses to workers through shirking are increased while a firm adopts a policy of: (w) dividing productive tasks thus the division of labor is optimal. (x) paying efficiency wages which exceed market-clearing wages. (y) avoiding legal liability by not writ
Provide a brief introduction of the term Marginal Costing? And also write down the essential suppositions made by Marginal Costing?
Define the areas of Scope of Managerial /Business Economics?
The most valuable human capital onto the given list would be possessed through a person who: (w) inherited a great deal of money. (x) invested large sums on the stock market. (y) had an advanced degree in music education. (z) specialized like a medica
For a firm hiring through a purely competitive labor market, in that case the supply of labor is: (w) greater than the MRC. (x) less than the MRC. (y) the same as the MRC. (z) vertical to parallel the wage rate. Discover Q & A Leading Solution Library Avail More Than 1414536 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1955924 Asked 3,689 Active Tutors 1414536 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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