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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.
Problem: Long-Run Labor Demand and Factor Substitutability Suppose there are two inputs in the production function, labor (L) and capital (K), which can be combined to produce
Intended or planned Investment Expenditure on investment depends on business expectations on the chance of making profits and on the availability of funds for the purchase of p
Q. Show Normal profit equilibrium? Normal Profits: With the condition of MC = MR and MC cuts the MR from below, if E is the point of stable equilibrium, output of firm is OM
Explain the limitations of managerial economics
Q. Illustrate Internal Economies of Scale? Internal economies of scale are the benefits of large scale production. They are enjoyed by the firm when it increases its scale of p
features of monopoly
Utility Analysis or Cardinal Approach: The Cardinal Approach to the theory of consumer behavior is based upon the concept of utility. It assumes that utility is capable of meas
In the national income analysis, investment refers to the value of than part of the aggregate output for any given time period which takes the form of construction of new structure
Q. What do you mean by Ordinal utility? A method of analysing utility or satisfaction derived from consumption of services andgoods, based on a relative ranking of services and
wHAT IS THE SIGNIFICANCE OF EXPECTATION ELASTICITY ?
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