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Economics

Q1. "Managerial economics involves use of economic analysis to make business decisions involving the best use of a firm's scarce resources" Explain the statement with suitable example.

Q2. What determines the capital-labor ratio for each good in each country? Why might both industries use a higher capital-labor ratio in one country than in another? Can you think of circumstances in which each industry would exhibit the same capital-labor ratio in both countries? Explain.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9156920

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