Explain managerial decision-making, Managerial Economics

Assignment Help:

Question 1:

(a) Describe how asymmetric information influences the price system and resource allocation. Provide examples to support your answer.

(b) Managerial decision-making involves uncertainty and risk. Analyse the possible behaviours of managers towards risk.

Question 2:

(a) Distinguish between income elasticity, price elasticity and cross elasticity of demand.

(b) Show how the manufacturer of mobile phones can use the concept of elasticity in pricing decision.

Question 3:

(a) Compare and contrast the profit maximizing behaviour and output decision of the perfectly competitive firm and the monopolist in the long run.

(b) Explain three different models of oligopoly. Support your answer with appropriate examples.


Related Discussions:- Explain managerial decision-making

Manaerial economics, define scarcityand oppurtunity cost.show how these con...

define scarcityand oppurtunity cost.show how these concepts are useful in managerial decision making

Regressive tax, REGRESSIVE TAX A tax is said to be regressive when its...

REGRESSIVE TAX A tax is said to be regressive when its burden falls more heavily on the poor than on  the rich.  No civilized government imposes a tax like this.

Central bank functions-goverment banker and fiscal agent, Goverment Banker,...

Goverment Banker, Fiscal Agent and Adviser Central banks in all countries acts as the fiscal agent, banker and adviser on all important financial matters to government of thei

Explain the tastes of the buyer must not alter, Tastes of the buyer must no...

Tastes of the buyer must not alter Any alteration which takes place in the taste of consumers will in all probability thwart the working of the law of demand. It frequently hap

Why do monopolies exist, Why Do Monopolies Exist? Monopolists have mark...

Why Do Monopolies Exist? Monopolists have market power and as a consequence will charges higher prices and generate less output than a competitive industry. It produces profit

Demand management policies for unemployment, Demand management policies ...

Demand management policies These policies are intended to increase aggregate demand and, therefore the equilibrium level of national income.  They are sometimes called fiscal a

Incremental profit, Electron Control, Inc., sells voltage regulators to oth...

Electron Control, Inc., sells voltage regulators to other manufacturers, who then customize and distribute the products to quality assurance labs for their sensitive test equipment

What are the methods of managerial economics, What are the Methods of Manag...

What are the Methods of Managerial Economics The process of managerial economics deals with aspects of economics and tools of analysis, which are employed by business enterpri

What is the profit maximising ticket price, A promoter decides to rent an a...

A promoter decides to rent an arena for concert. Arena seats 20,000. Rental fee is 10,000. (This is a fixed cost.) The arena owner gets concessions and parking and pays all other e

Comprehesive Compectitive Impact Summary U.S. retail firm, U.S. retail indu...

U.S. retail industry, Arc Elasticity is correctly used to assess the dollar magnitude of net benefits of a decision to raise price/output combinations by 5% in the short and medium

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