Measures of Central Tendency: There are three measures of central tendency that are: Mean: It is used to represent the average of the data. Median: It is used to represent the middle value. Mode:...
Economies of scale: Economies of scale refers to the situation where long-run average costs fall as the scale of production is increased. If all factor costs are constant, then increasing returns to scale...
The basic economics is the study of, and the Economy is a process where people ears their livelihood. Human being has unlimited wants; however, to fulfil those needs resources are limited. So we have...