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Quality and Quantity Controls: Demand forecasting is a necessary and valuable instrument in the control of management of an organisation to provide finished goods of correct quantity and quality at the correct time with the least amount of expenditure.
Financial Estimates: As per the sales level and production functions, financial requirements of an organisation can be computed using different techniques of demand forecasting. Additionally, it needs a little time to acquire revenue on practical terms. Sales forecasts will, consequently, make it possible for arranging adequate resources on practical terms and in advance as well.
Question 1. Discuss the practical application of Price elasticity and Income elasticity of demand Question 2. Discuss profit maximizing model in detail Question 3. Descr
different types of markets and role in managerial economics
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Relationship between AC, AVC, AFC and MC is elucidated graphically by drawing respective cost curves in Figure below. Behaviour of cost curves is elucidated below. Figure:
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Model Specification We proceed with the model specification in the following steps. 1) The economy is composed of competitive firms (F in number) and identical workers
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Illustrate about Demand theory Demand theory is one of the core theories of consumer behaviour andmicroeconomics. It attempts at answering questions regarding the magnitude of
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