Author: Economics Concepts

Average Cost

Please Share the below Post Rate this post Definition: The entrepreneurs are no doubt interested in the total costs but they are equally concerned in knowing the average cost per unit of the product. The figures of average cost...

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Isocost Lines

Please Share the below Post Rate this post (Isocost Lines or Outlay Line or Price Line or Factor Cost Line) Definition: A firm can produce a given level of output using efficiently different combinations of two inputs. For...

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Law of Costs

Please Share the below Post Rate this post Definition (Statement): Law of Costs is also known as law of returns. As an industry is expanded with the increased investment of resources, the marginal cost (i.e., the amount which is...

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Optimum Firm

Please Share the below Post Rate this post Definition and Explanation: Optimum firm is that firm which fully utilizes its scale of operation and produces optimum output with the minimum cost per unit of production. Factors...

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Capital Market

Please Share the below Post Rate this post Definition: Capital market are the means by which large amounts of money (capital) are raised by companies, governments and other organizations for long term use and the subsequent...

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