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Describe the Forecasting method in managerial economics It is a technique or a method to predict many future aspects of a business or any other operation. For illustration, a r
Merits of direct taxes a. They satisfy the principle of equity as they are easily matched to the tax payers capacity to pay once assessed. b. They satisfy the principles
Cost of Unemployment Unemployment is a problem because it imposes costs on society and the individual. The cost of unemployment to a nation can be categorized under three hea
What is increasing marginal cost? Felix’s marginal cost is greater the more lawns he has previously mowed. It is, every time he mows a lawn, the extra cost of doing still anoth
firms both in monopolistic and perfect competition tend to make normal profits but why do they criticize only monopolistic competition
Number 1 work: Week 4 Discussion - Empirical Demand Function and Forecasting The empirical demand function can be used in conjunction with historical data to predict pricing and
It can be geometrically proved that two elasticity are equal, which is., QB=RD Let's first consider ΔAOB. If we draw a horizontal line from point Q to intersect the vertical axis a
Q. Example on Relationship between marginal and average cost? This relationship between marginal and average cost can easily be recalled with the aid of Fig. below. It can be s
Using Factor Incomes for Calculating National Income A second method is to sum up all the incomes to individuals in the form of wages, rents, interests and profits t
the table shows gasoline rates in US
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