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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?
Consider an industry with a sole producer, a monopolist. The latter faces cost function C(Q)= Q/2 and aggregate (inverse) demand P(Q)=1 - Q (zero for Q> 1). Illustrate all your ans
QUESTION 1 Negotiating skills remain a critical capability for procurement practitioners. Skilled negotiators have the potential to improve the negotiating outcome. Procurers o
LONG RUN OUTPUT In the LR whether or not the firm makes profit will depend on the conditions of entry. For example, when surplus profits exist, there will be new entrants bec
Q. Example on Changes in fixed costs and profit maximisation? What if arena owner in the illustration above triples the fee for the subsequent concert but all other factors are
Disadvantages of the Planned System The centrally planned economies suffer from the following limitations: Lack of choice: Consumers have little influence over what is p
definition of discounting concept
Theory of Consumer Behaviour Through the study of theory of consumer behaviour we can be able to explain why consumers buy more at a lower price than at a higher price or put
Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case.
Country A has a fixed exchange rate with country B. Due to a recession in country B, demand for A's goods falls. Draw what would happen on the graph below. On the graphs, draw what
“Managerial economics involves use of economic analysis to make business decisions involving the best use of a firm’s scarce resources” Explain the statement with suitable example.
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