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Techniques of Managerial Economics Managerial economics draws on a wide range of economic tools, concepts and techniques in decision-making process. These concepts can be cons
Discuss the price output determination using profit maximization under perfect competition in the short run.
Price elasticity of demand The price elasticity of demand is defined as the degree of sensitiveness or responsiveness of demand for a commodity to the changes in its price. Mo
Determine the Application of managerial economics Application of managerial economics isn't restricted to profit-seeking business organisations. Tools of managerial economics
FUNCTIONS OF CENTRAL BANK Economists and financial experts lack in unanimity about the functions of a central bank. According to Kisch and Elkin, the essential function of a c
Describe the Optimisation of managerial economics Optimisation techniques are perhaps the most vital to managerial decision making. Given that alternative courses of action are
Discuss how the nation's present economic situation may affect your business in the next year (your market is the entire US economy). Contain the following in your analysis. a)
Question: Discuss the pricing practices adopted by firms under different market structures. OR A firm produces a good, which is sold on delivery and in restaurants. The d
Functions of the Budget The budget fulfils three main functions: To raise revenue to meet government expenditure The government of a country provides certain se
An Economy consists of two regions, the North & the South. The short-run elasticity of labor demand in every region is -0.5. Labor supply is perfectly inelastic within both regions
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