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State the Meaning of managerial economics
Managerial economics, used synonymously with business economics, is a study of economics that deals with the application of microeconomic analysis to decision-making methods of businesses and management units. It acts as the through media among economic theory and pragmatic economic
How relevent is managerial dicretion in developing countries?
Write the forecasting techniques There are many forecasting techniques available to person assisting the business in planning its sales. Take for instance a forecasting metho
Because of the complex and dynamic nature of marketing phenomenon, demand forecasting has become a regular and significant business exercise. It is necessary for profit maximisatio
Types of isoquant
Opportunity cost is cost of a different that must be forgone in order to pursue a definite action. Put another way, the advantages you could have received by taking an alternative
what is market
define equi marginal principle
Market demand and consumers surplus Suppose that the market price of a cup of coffee is K£4 but the consumer was willing to pay £9 for the first unit, £8 for the second, £7 fo
Usually, elasticity of a demand curve throughout its length isn't the same (Fig. below). It varies between 0 and ∞, or in other words, 0 ≤ e p ≥ ∞ In some cases, though, the
Provide two examples of identity economics other than those given in the article
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