Concepts of elasticities in making decisions, Managerial Economics

Assignment Help:

Question 1:

"Anyone who is willing to learn the language of economics and take the time to practice making decisions can learn to be an effective manager." Explain how.

Question 2:

The management board wishes to investigate the demand for powdered milk in Mauritius.

(a) What do you consider to be the most important factors affecting the demand for milk?

(b) Explain how the various concepts of elasticities can assist in making decisions?

Question 3:

Discuss the factors influencing the decisions to enter the market of a product with which you may be familiar.

Question 4:

"Collusion is the likely outcome in every oligopolistic industry". Discuss.

Question 5:

"Profit is maximised when marginal revenue is equal to marginal cost. This must be the only way to reap maximum profit." Do you agree? Use examples to illustrate.

Question 6:

Describe why government intervenes and how these affect managerial decisions?


Related Discussions:- Concepts of elasticities in making decisions

What is consumer demand , Consumer Demand is how much of something that co...

Consumer Demand is how much of something that consumers are wanting. A company requires to know the consumer demand so they know how much of a product to build.

Decrease in demand - effect on equilibrium price, Decrease in Demand ...

Decrease in Demand At the initial equilibrium price P 1 , quantity demanded falls from q 1 to q d .  But the quantity supplied is still q 1 at this price.  Hence, this

The balancing item, THE BALANCING ITEM Since for ever position entry i...

THE BALANCING ITEM Since for ever position entry in the current and capital accounts there is a corresponding negative entry in the monetary account, and for every negative en

High level of supervision, Let consider the following game among an employe...

Let consider the following game among an employer (Katharine) and an employee (Kevin). Katharine needs Kevin to work hard rather than loaf around and  that is why she considers spe

Marginal utility, Marginal Utility The extra utility derived from the ...

Marginal Utility The extra utility derived from the consumption of one more unit of a good, the consumption of all other goods remaining unchanged. The hypothesis of dimin

Appropriate management of sales, Appropriate Management of Sales: Demand f...

Appropriate Management of Sales: Demand forecasts are made area wise and after that sales targets for various areas are set in view of that. This helps the calculation of sales pe

The calculus of optimization, the demand for widgets(x) is given by: px=160...

the demand for widgets(x) is given by: px=160 -4x the production of widget has the following average variable cost: Avc=2x-20 fixed cost are 162 calculate the output level of widg

Factors influencing exchange rates, Factors influencing Exchange Rates ...

Factors influencing Exchange Rates i.  Inflation:   Other things being equal, a country experiencing a high rate of inflation will experience a lower demand for its goods whil

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd