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Explain the Decision-making theory
Decision-making theory and game theory that recognise the conditions of imperfect knowledge and uncertainty under which business managers operate have contributed to systematic methods of assessing investment opportunities. Almost any business decision can be analysed with managerial economics techniques
Income Elasticity of different consumer goods Commodities Coefficient of income elasticity Impact on expenditure Necessities
Cross-elasticity is the measure of responsiveness of demand for a commodity to the changes in price of its substitutes and complementary goods. For example, cross-elasticity of dem
Search Theory and Unemployment You must understand the search and matching theories of unemployment in the context of other theories of unemployment. With this objective in
FACTORS RESPONSIBLE FOR WAGE DIFFERENTIALS BETWEEN OCCUPATIONS The major cause is demand and supply for the particular labour concerned, but other causes could be: i.
Monetary Theory We have seen that Schumpeter theory which runs in terms of innovations and technical change, is at best an incomplete explanation of trade cycle . there are eco
What is decreasing marginal cost? All additional lawn mowed generates less benefit than the earlier lawn à along with decreasing marginal benefit; every additional unit generat
distinguish between industry demand and firm demand..
define equi marginal principle
firms both in monopolistic and perfect competition tend to make normal profits but why do they criticize only monopolistic competition
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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