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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?
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.
examples
explain baumol''s sales maximisation model in detail
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 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
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 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: 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 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 i. Inflation: Other things being equal, a country experiencing a high rate of inflation will experience a lower demand for its goods whil
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