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Short run analysis with Law of Variable Proportions- Production function with two variable inputs- isoquants, ridge lines and least cost combination of inputs- Long run production function and Laws of Returns to Scale – expansion path – Economies and diseconomies of Scale and economies of scope 4. Demand Function – Nature of demand curve under different markets Meaning, msnan, types and measurement of elasticity of demand Price, income cross and promotional – relationship between elasticity of demand and revenue concepts Demand Estimation and Forecasting: World of Science Series Collection – 24 Books.
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