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Describe the Application of economic theories
Pertinent business decisions necessitate an unambiguous understanding of the environmental and technical conditions under which business decisions are taken. Application of economic theories to explain as well as analyse business environment andtechnical conditions, contributes greatly to rational decision-making process. Economic theories have many pronged applications in the analysis of practical problems of business. Keeping in mind the escalating complexity of business environment, efficacy of economic theory as a tool of analysis and its contribution to process of decision-making has been extensively recognised
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Movements along the supply curve Movements along the supply curve are brought about by changes in the price of the commodity. When price increases from P1 to P2, quant
briefly explain oppurtunity cost in decision making?
Measuring Point Elasticity on a Non-linear Demand Curve Let's now explain the method of measuring point elasticity on a non-linear demand curve. Assume we want to measure the
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Weighted-average costing: Normal and abnormal spoilage Ranka Company manufactures high-quality leather products. The Company's profits hav declined during the past 9 months. R
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Explain important terms of marginal productivity and wage inequality Marginal Productivity and Wage Inequality: a. Market power • Compensating Differentials • Dang
Economics contributes a great deal with towards the performance of managerial duties and responsibilities. Just as biology donates to the medical profession and physics of engineer
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