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MS-09 Managerial Economics

Friday, June 12, 2009. Explain the theoretical principles of production to explain . Explain the theoretical principles of production to explain the relative. Substitution of one input for another occurring as a result of the increased price. Answer. The production theory deals with quantitative relationships, i.e., technical and. Technological relations, between inputs, especially labour and capital, and between. The Laws of production. Input Prices - Substitution Effect. Different rates in opposite dir.

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MS-09 Managerial Economics

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Friday, June 12, 2009. Explain the theoretical principles of production to explain . Explain the theoretical principles of production to explain the relative. Substitution of one input for another occurring as a result of the increased price. Answer. The production theory deals with quantitative relationships, i.e., technical and. Technological relations, between inputs, especially labour and capital, and between. The Laws of production. Input Prices - Substitution Effect. Different rates in opposite dir.

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