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Lecture Managerial economics: Chapter 7 - Mark Hirschey
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This chapter provides knowledge of demand estimation & forecasting. The contents of this chapter include all of the following: Production Functions; Total, Marginal, and Average Product; Law of Diminishing Returns to a Factor; Input Combination Choice; Marginal Revenue Product and Optimal Employment; Optimal Combination of Multiple Inputs; Optimal Levels of Multiple Inputs; Returns to Scale; Productivity Measurement. |