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What is external cost?
Any cost that is impose to other with out any agreement is called external cost. Example Any industry or any organization who generate air pollution. so air pollution is a external cost. So these type of firm imposing external cost to the people and they have no any agreement between industry and affected people. From Muhammad Waqas Azeem Toba Tek Singh, Pakistan
What is the differences between standard cost and marginal cost?
The main difference between standard cost and marginal cost is that in standard cost a target is set and in marginal cost there is no target set. Marginal cost is the change of the total cost due to the quantity produced.
What are the similarities and differences between cost benefit analysis and cost effectiveness analysis?
These are essentially the exact same thing. There really aren't any differences. This is just a different way of saying deciding what is most cost effective for your business.
What do you mean by enterprise relationship?
Enterprise Relationship is basically a business strategy for value creation that is not based on cost containment, but rather on the leveraging of network-enabled processes and activities to transform the relationships between the organization and all its internal and external constituencies in order to maximize current and future opportunities. Hope that heaps!!
What kind of relationship you postulate between short-run and long run average cost curves when these are not U shaped?
The type of relationship that you postulate between short-run and long-run average cost curves that is not U shaped is the external limiting relationship.
