Modern theory of cost is that the Economist belief that the average cost curve and marginal cost curve (AC & MC) are "L" shaped.
the traditional theory explains cost curve u shape, but in modern theory says that cost curve L shape
The differences between modern and traditional theory of costs relate to international trade. Traditional theorists thought that there should be a separation from internal trade and internal relations while modern theorists felt the terms were the same.
The most modern theory of light is the quantum theory.
HENRY FAYOL is the father of modern operational management theory.
HENRY FAYOL is the father of modern operational management theory.
. Harry Markowitz established the foundation of modern portfolio theory in 1952.
The modern theory of evolution is also known as the synthetic theory of evolution or the modern synthesis. It combines Darwin's theory of natural selection with genetics and other fields of biology to explain how organisms evolve over time.
The term 'modern theory of evolution' most likely refers to the 'modern synthesis', which combines Darwin's classical model with modern genetics.
he was wrong
It's the Quantum Theory.
Cost-plus-markup theory is the theory that business firms calculate their unit costs and add on a percentage markup.
The original founder of quantum theory was Max Plank. The basic theory has been improved upon many times but there hasn't been a 'Modern Quantum Theory' that replaces the old.