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Determine the studies of Managerial economics
Managerial economics studies the application of techniques, principles as well as concepts of economics to managerial problems of industrial and business enterprises. The term is used interchangeably withmicroeconomics, business economics, economics of enterprise, managerial analysisand applied economics and so on. Managerial economics lies at the junction of economics and business management and traverses the hiatus between the two disciplines.
The optimum output and price level is always determined with the concepts of revenue and costs-the difference in joint or independent production will show in the differences in cos
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Explain in brief the relationship between TR,AR and MR under perfect market condition.
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