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Management Decisions: An effective demand forecast assists the management to take suitable steps in factors which are relevant to decision making like plant capacity, raw-material requisites, space and building requirements as well as availability of labour and capital. Manufacturing schedules can be drafted in compliance with the demand requisites; in this manner cutting down on the inventory, production and other related costs.
Evaluation: Demand forecasting also smoothes the process of evaluating efficiency of the sales department.
Q. What is Marginal cost curve? MC curve is also 'U' shaped as in Figure below. Marginal cost curve falls initially but then reaches a minimum point and lastly rises. Shape of
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what is the full concept of discounting principles of managerial economics ?
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