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29th January 2022
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indiafreenotes
It is generally held that the main motive of a firm is to make profits. The volume of profit made…
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29th January 2022
By
indiafreenotes
Risk-Bearing Theory of Profit: The main proponent of this theory is Prof. Hawley. According to Hawley, one of the major…
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29th January 2022
By
indiafreenotes
Economies of scope are “efficiencies formed by variety, not volume” (the latter concept is “economies of scale”). In economics, “economies”…
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29th January 2022
By
indiafreenotes
A cost function is a formula used to predict the cost that will be experienced at a certain activity level.…
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28th January 2022
By
indiafreenotes
The demand function shows the relation between the quantity demanded of a commodity by the consumers and the price of…
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28th January 2022
By
indiafreenotes
Discounting principle is a continuation of time perspective & we can say it is a corollary of time perspective. The…
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28th January 2022
By
indiafreenotes
The Law of equimarginal Utility is another fundamental principle of EconoÂmics. This law is also known as the Law of…
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28th January 2022
By
indiafreenotes
The incremental concept is closely related to the marginal costs and marginal revenues of economic theory. Incremental concept in managerial…
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28th January 2022
By
indiafreenotes
Opportunity costs are cash outflows prevented by taking one course of action instead of another. They include returns, which the…
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28th January 2022
By
indiafreenotes
The economic concepts of the long run and the short run have become part of everyday language. Managerial economists are…
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