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What is production function usefulness in the analysis of the firm's production?
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How do you develop conceptual framework?
Conceptual frameworks are abstract representations connected to the research's projects goal that direct the collection and analysis of data. ÊFor example, Economist use the conceptual framework," supply" and "demand" ti distinguish between the behavior and incentive system of firms and consumers
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PWC Deloitte KPMG EnR
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What you mean by production planning and control?
Production, planning and control is a very important in the manufacturing firms. They help in the analysis and help determine the quality of a given type of product.
Who own the factor of production?
Business firms own the factors of production.
Why ratios is calculated?
To see the Firms Financial position Firms Performance Trend analysis
What is horizontal and covers similar types of firms and operating practices of the firms?
industry analysis
Will a firm that owns its own capital equipment will have the exact same long run cost function as a firm that rents capital if both firms have the same production function?
No a firm that owns its own capital equipment will not have the exact long run cost function as a firm that rents capital even if they both have the same production function.
When foreign firms build production facilities in the US What are they are engaging in?
When foreign firms build production facilities in the United States, they are engaging in
Firms purchase inputs for production from households in the .?
hahahaha
Why do firms engage in the activity of production?
to acquire profits
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6 What are the advantage and disadvantage of level production schedules in firms with cyclical sales?
The advantage of the level production schedule in firms with cyclical sales is resources and labor are spread evenly. The disadvantage of the level production schedule is that it is a costly exercise.
When a firms revenue from sales exceeds its cost of production it will earn?
Profit
Which factor of production is used by manufacturing firms for a physical location?
land
