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Explain about Pragmatic
Managerial economics is pragmatic. In pure micro-economic theory, analysis is performed based on certain exceptions that are far from reality. Though in managerial economics, managerial issues are resolved daily and difficult issues of economic theory are kept at bay.
Weapons of Conflict The trade unions and the employers (or their associations) have many ways of enforcing their demands on each other. They include: Strikes: The stri
scope of marginal costing
Measures to control inflation An inflationary situation can effectively be addressed/tackled if the cause is first and foremost identified. Governments have basically three
Market demand and consumers surplus Suppose that the market price of a cup of coffee is K£4 but the consumer was willing to pay £9 for the first unit, £8 for the second, £7 fo
The demand curve Suppose that starting from a condition of equilibrium, the price of X falls relative to Y. We now have a condition where the utility from the last shilling s
Using the discounting principle calculate the present value of an annuity of five years at Rs. 500 payments made at the end of each of the next five years at 10% interest. stion..
SOME DIFFICULTIES IN MEASURING NATIONAL INCOME National Income Accounting is beset with several difficulties. These are: a. What goods and services to include A
In the long run, because of the assumption of free entry and exit of the firms, it's not possible for the firms to make super-normal profits nor it is possible for them to incur lo
what are the criticisms of it
Air Canada and KLM compete for customers on flights among Amsterdam and Toronto. The total number of passengers (Q) flown by these two firms is the sum of passengers who fly KLM, Q
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