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Q.1) As a managerial economist Illustrate what is most important advice you will give manager of a business industry?
2) Assume you are a production manager, why is it important to define time frame in laying down strategies of industry?
3) State and elucidate principle of diminishing marginal utility in relation to consumer demand.
4) Illustrate what is production function and how is it relevant to a production manager.
Suppose you are told that price of Toyotas' has increased from last year as has the number bought and sold. Is this an exception of the law of demand, or has there been a change in demand or supply that could account for it.
In 2003, when music downloading first took off, Universal Music slashed the prices of CDs from an average of $21 to an average of $15.
Elucidate how the market system efficiently performs the functions of communication, cordination, and motivation in the distribution of resources to consumers.
Assume which one company acquires all the suppliers in the industry and thereby creates a monopoly.
it is estimated that the price elasticity of demand is -3.0. Is the firm charging the optimal price for the product. Demonstrate how you know.
This might be interpreted as an upward shift in the consumption function. How does this shift affect investment also the interest rate.
Explain how does the price elasticity of demand for corn oil influence the quantity-demanded of corn oil and the Total Revenue earned by sellers of corn oil.
Explain your answer statements be true at the same time. The unemployment rate in Tappania is higher now than it has been in 50 years.
Jane wants to buy a beautiful doll as a gift for her sister's birthday. What is the advantage to society to correct the externality?
In what industry will a given percentage increase in production workers result in the largest percentage increase in output.
which revealed that the buyers were, on average, willing to pay a premium of $295 for an IBM computer.
A tax placed on buyers of airline tickets shifts the
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