Economic situations or decisions, Managerial Economics

Assignment Help:

Imagine of these concepts (markets, elasticity, production, costs, market structures).  Take one or two of those concepts and use it to examine and understand economic situations or decisions that you face in you're your company.  If you can't apply these concepts to your workplace you may use current news items.  I would like you to:

-    Illustrate how the economic concepts give a framework for understanding the situations or decisions.

-    Use economic concepts (goals, constraints, decision variables) to frame decision making (i.e. market structure will verify what decisions are available to a firm, such as a firm selling commodities largely has no control over price).  This will contain understanding what decisions are available (what are the tradeoffs?) and how to use economic concepts to choose between available alternatives to make the most informed decision.


Related Discussions:- Economic situations or decisions

Indirect taxes, INDIRECT TAXES These are imposed on an individual most...

INDIRECT TAXES These are imposed on an individual mostly producers or traders but they can be passed on to be borne by others usually the final consumers.  They can also be de

Morris model, explain critically growth maximisation model of morris ?

explain critically growth maximisation model of morris ?

Characteristics of oligopoly, Oligopoly can be characterized as follows: ...

Oligopoly can be characterized as follows: Small Number of Sellers: There are more than one sellers of a product though; the number isn't so huge in order to produce perfect

Isoquant analysis, ISOQUANT ANALYSIS In the long run it is possible fo...

ISOQUANT ANALYSIS In the long run it is possible for a firm to produce the same output using different combinations of two factors of production.  For instance it the two fact

Show the empirical analysis, Q. Show the Empirical analysis? Empirical ...

Q. Show the Empirical analysis? Empirical analysis aimed at investigating nature of scale economies, degree of input complementarily orsubstitutability, or the nature and exten

Explain supernormal equilibrium, Q. Explain Supernormal Equilibrium? S...

Q. Explain Supernormal Equilibrium? Supernormal Equilibrium: E is the point of stable equilibrium as MC = MR and MC cuts the MR from below.   Figure: Supernormal Equ

Explain mark-up pricing, Q. Explain Mark-up pricing? In addition to usi...

Q. Explain Mark-up pricing? In addition to using above methods to conclude a firm's optimal level of output, a firm can also set price to maximise profit. Optimal markup rules

Importance of demand forecast, Management Decisions: An effective demand f...

Management Decisions: An effective demand forecast assists the management to take suitable steps in factors which are relevant to decision making like plant capacity, raw-material

Managerial economic, gap between economic theory and business practice

gap between economic theory and business practice

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd