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Describe about the Theory of profit
Every industrial and business enterprise aims at maximising profit. Profit is the difference between total economic cost and totalrevenue. Profitability of an organisation is greatly influenced by the below factors:
Therefore profit management and profit planning are very significant requisites for improving profit earning efficiency of the firm. Profit management includes the use of most efficient technique for predicting the future. Probability of risks must be minimised as far as possible.
The following contains cost and benefit information for two different alternatives for a w capital investment in computerized process technologies to control the process at a manuf
The Microeconomic objectives of government These are the policies which are concerned with the allocation and distribution of resources to maximize social welfare. 1. Allo
Pragmatic Managerial economics Managerial economics is pragmatic. In pure micro-economic theory, analysis is performed, based on certain exceptions, which are far from reality
Q. Describe MRPL and profit maximisation? The common rule is that firm maximises profit by producing that quantity of output where marginal revenue equals marginal costs. Profi
Basic textbook models, such as the Mundell-Fleming model, say that capital inflow happens due to the domestic interest rate being higher than the world interest rate, and therefore
Characteristics of Money Over time, therefore, it became clear that for an item to act as money it must possess the following characteristics. Acceptability If
principles of time perspectives
Determine the concept of Law of demand We have considered numerous factors which fashion the demand for a commodity. As explained the first and most important factor which determ
The production function of a small shop that frames pictures is Q = 5 √ LK where Q is the number of pictures framed per day, L is labor hours and K is the machine hours.
question 1, Managerial Economics
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