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Question 1. Discuss the practical application of Price elasticity and Income elasticity of demand
Question 2. Discuss profit maximizing model in detail
Question 3. Describe the objectives of pricing Policies
Question 4. Define Fiscal Policy and the instruments of Fiscal policy
Question 5. Explain the kinds and the basis of Price discrimination under monopoly
Question 6. Define the term Business Cycle and also explain the phases of business or trade cycle in brief
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs. 3 to 2
Q. Implications for the shape of cost function? A cost function is also a mathematical relationship, one which relates the expenses an organisation incurs on the quantity of ou
Describe the Forecasting method in managerial economics It is a technique or a method to predict many future aspects of a business or any other operation. For illustration, a r
Estimating economic relationships Managerial economics estimates economic relationships between various business factors likeelasticity of demand, income, profit analysis, cos
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)
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Explain the concept of externality in economics? Give one example of a positive and a negative externality in Australia.
What is Normative economics It is concerned with varied corrective measures which a management undertakes under different circumstances. It deals with goaldevelopment, goal det
What is Microeconomics It studies the principles and problems of an individual business firm or an individual industry. It services the management in evaluating and forecasting
Relationship between AC, AVC, AFC and MC is elucidated graphically by drawing respective cost curves in Figure below. Behaviour of cost curves is elucidated below. Figure:
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