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Perfectly Inelastic (Zero Elastic) Supply Supply is said to be perfectly inelastic if the quantity supplied is constant at all prices. The supply curve is a vertical straight
classification of costs
determine points in units and reorder quantity normal sales=2 month; reorder time=15days; max stock=6 units; safety stock=1 unit ( based on 95% customer''s satisfaction )
Perfect Competition The model of perfect competition describes a market situation in which there are: i. Many buyers and sellers to the extent that the supply of
Demand analysis Demand analysis is undertaken to forecast demand, which is a fundamental constituent in managerial decision-making. Demand forecasting is of important because a
The greenhouse gas emission is estimated to grow in the medium and long term. In order to minimize the negative effects of global climate change, it is required to stabilize the co
Takes the help of macroeconomics Managerial economics incorporates certain aspects of macroeconomic theory. These are important to comprehending the circumstances and environme
The optimum output and price level is always determined with the concepts of revenue and costs-the difference in joint or independent production will show in the differences in cos
game theory matrix dominant strategy
Functions of the Budget The budget fulfils three main functions: To raise revenue to meet government expenditure The government of a country provides certain se
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