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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
Q. Explain about Managerial Economies? Large scale production makes possible the division of managerial functions. So there exists a production manager, a finance manager, asal
The Determination of the Value Money Since money is primarily a medium of exchange, the value of money means what money will buy. If at one time a certain amount of money
Q. Explain about Transaction Cost Theory? The below model reveals market and institutions as a possible form of organisation to coordinate economic transactions. When external
CONTRACTING AND INSIDER-OUTSIDER MODELS OF UNEMPLOYMENT From the Walrasian assumption of a market-clearing wage on efficiency considerations - it was postulated th
What are the essential conditions for perfect completion? Two essential conditions for perfect competition are as given below: a. Various producers, none of whom have a hug
In regards to air pollution, use a diagram to show and explain how the existence of pollution can make the market equilibrium inefficient.
State the difficulties in the measurement of profit.
Unit Elasticity of Supply Supply is said to be of unit elasticity if changes in price bring about changes in quantity supplied in the same proportion. Thus, when price rises,
What is economics of information
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