The below mentioned article provides a study note on the cost function. Economies and Diseconomies of Scale: The behavior of long run average total cost to the changes in scale [by increasing all inputs to raise the level of output of the firm] can be studied by estimating the economies and dis-economies of scale. The economies of scale in total [...]
In this article we will discuss about the Application of Econometric Methods to Various Economic Problems. It is well known that the quantitative methods in the discipline of Economics are being extensively used to examine the economic relationships among variables [Functional Relationships]. The combination of the theory of Economics, Methods of Statistics and Mathematics is referred to as Econometrics [Measurement [...]
The below mentioned article provides a study note on the Engel function in economics. Engel's Laws: The relationship between total consumption expenditure and expenditure on a specific item at a point of time across the sample households is known as Engel Function or Engel Curve. The empirical results of the study undertaken by Engel [Ernst Engel was German Statistician] were [...]