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The emergence of managerial economics as a separate course of management studies can be attributed to at least three factors:
1. Growing complexity of business designs making process due to changing market conditions and business environment
2. Consequent upon, the increasing use of economic logic, concepts, theories and tools of economic analysis in the process of business design making, and
3. Rapid increase in demand for professionally trained managerial manpower. Let us have a glance at how these factors have contributed to the creation of managerial economics as a separate branch of study.
explain marris model
Benefits are: 1) People can create their own decisions 2) The government has limited control, which is good for arrangement 3) Gives freedoms like Enterprise, ownership,
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Describe the Status goods of law of demand The law doesn't concern the commodities that function as a 'status symbol', add to the social status or exhibit prosperity and opulen
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
what are the limitation of managerial economics and what is the solution of it?
Internal and External factors of business operation External factors : A firm can't exercise any control over these factors. Thepolicies, plans and programmes of the firm m
THE GOVERNED ECONOMY The governed economy contains central authorities often simply called "the government" - who levy taxes on firms and households and which engages in numer
Question 1: Martha National County Club is a golf club in an isolated wealthy community and accepts only females as members. There are 1,000 identical female members of the club an
Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case above.
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