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Describe the Managerial decisions
Managerial decisions are an important component in the working wheel of an organisation. The failure or success of a business depends upon the decisions taken by managers. Increasing complexity in business world has spewed forth greater challenges for managers. Today no business decision is bereft of influences from areas other than the economy. Decisions relevant to production and marketing of goods are shaped with a view of world both inside and outside the economy. Rapid changes in technology, greater emphasis on innovation in products along with processes that command influence over marketing and sales techniques have contributed to escalating complexity in business environment. This composite environment is coupled with a global market where input and product prices are have a propensity to fluctuate and remain volatile. These actors work in tandem to increase the difficulty in precisely evaluating and determining the outcome of a business decision. Such momentary environments give rise to a pressing need for sound economic analysis before making decisions.
what is objective
Profit as rent of ability: one of the most widely known theories of profit was propounded by F.A. Walker. According to him profit is the rent of is the difference between the earn
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definition of optimal use of veriable input
Hi Could you please help me with " Ramsey pricing in detail " as I have an assignment.
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Assume that input prices are constant at r = 1, w = 1, with technology which consists of 5 processes having the following properties: Process Inputs Capital (machine hours)
Explain the limitations of managerial economics
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