ECONOMIES OF SCALE Economies of scale are the cost advantages that a business can achieve by expanding the scale of production. That is‚ when long-run average costs (LRAC) fall. Overhead costs (fixed) are spread over more units produced. Overhead costs (fixed costs) are spread more when more units are produced. These lower costs are an improvement in productive efficiency and can benefit consumers in the form of lower prices. Units produced Total cost Average cost (Total
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this can increase the rate at which commuters are transported‚ so all the commuters can enjoy fast rides. - The frequency of an MRT train is not long‚ ranging from a min to a maximum 5 or 6 minutes unlike that of buses which range from 5 minutes to 20 or more minutes. So‚ the MRT can provide faster rides for the commuters too. -The cost of an MRT is not that expensive‚ as compared to Taxis. The prices of a MRT transport is 45 cents for children to about a dollar for adults but the basic fare of
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Importance of Transportation Infrastructure in Society Name Spring 2011 University Prof. Name Date Abstract Transportation infrastructures are a key component of a nation ’s critical infrastructures‚ covering physical assets such as airports‚ ports‚ and railway and mass transit networks as well as software systems such as traffic control systems. Transport systems composed of infrastructures‚ modes and terminals are so embedded in the socio-economic life of individuals‚ institutions
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TEST - MARKET STRUCTURES - TEST Multiple Choice This monopoly occurs when a firm develops new technology that changes the way goods are produced or creates an entirely new product. a. geographic b. natural c. government d. technological 2. A monopoly owned & operated by any level of government: a. geographic b. natural c. government d. technological 3. Exists when a single firm controls the total production or sale of a product. a. oligopoly
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American Economic Association The Theory of the Firm as Governance Structure: From Choice to Contract Author(s): Oliver E. Williamson Source: The Journal of Economic Perspectives‚ Vol. 16‚ No. 3 (Summer‚ 2002)‚ pp. 171-195 Published by: American Economic Association Stable URL: http://www.jstor.org/stable/3216956 Accessed: 21-04-2015 06:39 UTC Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use‚ available at http://www.jstor.org/page/info/about/policies/terms
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MAKERERE UNIVERSITY EVALUATION OF COST CONTROL TECHNIQUES AND PROFITABILITY IN MANUFACTURING FIRM CASE STUDY: CENTURY BOTTLING COMPANY LIMITED BY WASIKE DANIEL WAMUKOTA 07/U/15905/EXT SUPERVISOR: BY MR KITALE CHRIS APROJECT REPORT SUMITED IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR AWARD OF DEGREE OF BACHERLORS OF COMMERCE OF MAKERERE UNIVERSITY June 2011 DECLARATION I‚ Wasike Daniel wamukota declare that the piece of work is my original effort and never
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6 The 20th Century 6 History of the Road Transportation Network 1794. You may ask‚ what is the significance of this date? In 1974‚ the first modern road transportation network was established in Great Britain‚ allowing the first mail coach service between Bristol and London that ran on a timetable. However‚ roads have been around for centuries. So how is this relatively late date the “first” instance of a modern transportation system? Let us take a look at transport throughout the
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Decisions for Firms with Market Power Market power is the ability of all price setting firms to raise price without losing all sales‚ which causes the price setting firm’s demand to be downward-sloping. When firms with market power raise price‚ even though sales do not fall to zero‚ sales do decrease because of the law of demand. The effect of the change in price on the firm’s sales depends to a large extent on the amount of its market power‚ which can differ greatly among firms. This chapter
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‘Research’ “Public Transportation” For countless years‚ I’ve been living in suburban towns and metropolises that needed a car to become around. Nowadays I’m back in The UAE‚ a metropolis alongside a fairly comprehensive bus system. Broadly speaking‚ public transportation has invaded a big part of my life. In fact‚ transportation nowadays seems to play a major role in everybody’s daily life. In 2011‚ Americans seized 10.2 billion trips on area transportation (Anonymous‚ 2012). Access to public
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Transportation Transport or transportation is the movement of people‚ animals and goods from one location to another. Modes of transport include air‚ rail‚ road‚ water‚ cable‚ pipeline‚ and space. The field can be divided into infrastructure‚ vehicles‚ and operations. Transport is important since it enables trade between people‚ which in turn establishes civilizations. Transport infrastructure consists of the fixed installations necessary for transport‚ including roads‚ railways‚ airways‚ waterways
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