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Define concept of Managerial decision-making
Managerial decision-making draws on economic concepts as well as techniques and tools of analysis provided by decision sciences. The main categories of these techniques and tools are optimisation, forecasting, statistical estimation, game theory and numerical analysis. Most of these methodologies are technical. Some of them are briefly explained below to explain how tools of decision sciences are used in managerial decision-making.
Custodian of Member Banks Cash Reserves As bankers bank the central bank performs several function. It keeps the cash reserves of commercial banks in the economy and thus acts
structure of managerial economics
Arguments against protectionism Most of the arguments for protectionism may be met with counter arguments, but underlying the economic arguments as opposed to the social, mo
factors affecting demand forecasting
Q. Define Profit maximisation theory? Profit maximisation theory defines that firms (corporations orcompanies) will establish factories where they see potential to achieve the
define derivatives
The Basis of Wage Claims The union's demand for higher wages is normally based on one or more of the following four arguments: 1. The cost of living argument This is
Q. What do you mean by Legal Monopoly? Legal Monopoly: Some monopolies are engendered and protected under various laws. Inventors of new processes, devices or articles attain
want assignment on Elasticity of Demand:
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2.
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