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InterviewSolution
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What Is Equilibrium Of The Firm And Industry ? |
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Answer» According to MILLER, “Firm is an organisation that buys and hires RESOURCES and SELLS goods and services”. Lipsey has defined as “firm is the unit that employs factors of production to produce commodities that it sells to other FIRMS, to households, or to the GOVERNMENT.” According to Miller, “Firm is an organisation that buys and hires resources and sells goods and services”. Lipsey has defined as “firm is the unit that employs factors of production to produce commodities that it sells to other firms, to households, or to the government.” |
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