Describing the task of managers

Reference no: EM1367028

Question 1:

Why is it important for managers to understand both short run and long run supply and demand? Please provide one hypothetical or real life example that illustrates your response.

Question 2:

Under what circumstances would it be appropriate to resort to plant or company closings or layoffs? What is a good guideline to follow and explain how it may help a manager make this type of decision.

Reference no: EM1367028

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