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The Budget line and its economic interpretation The indifference curve shows us consumer preferences but it does not show us the situation in the market place. Here the consu
How does economic theory contribute to managerial decisions
what are the examples of the types of elasticity (price,income & cross elaticity
External Debt Problem External debt refers to debt owing by one country to another. External debt is a more serious problem than internal debt because the payment of interest
Q. Explain Discrete-event simulation? Discrete-event simulation: Operation of a system is signified as a chronological sequence of events. Every event take place at an instan
Managerial Economics helps create utility for the Society.
Q. Show the Isoquant touching axis? Isoquants do not intersect: By definition isoquants such as indifference curves, can never cut each other. If they cut each other it will
Theories associated with different market structures A firms profit maximising output decisions take into account the market structure under that they operate. There are 4 type
The city of Cabernet is very popular for its production of wine. The inhabitants of the city have an aggregate demand for wine that can be described as follows: where Q d
present a detailed discussion of the principles of managerial economics
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