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State the relevant economic quantities
Managerial economics helps the management in predicting numerous economic quantities like profit, cost, capital, demand, price, production etc. As a business manager has to function in an environment of uncertainty, it's imperative to anticipate the future working environment in terms of said quantities.
Describe the Managerial decisions Managerial decisions are an important component in the working wheel of an organisation. The failure or success of a business depends upon the
TYPES OF BUDGETS 1. Deficit budget If the proposed expenditure is greater than the planned revenue from taxation and miscellaneous receipts, this is a budget defic
Environmental issues factors This is governed by the below factors: The type of economic system of the country Business cycles Industrial policy of the countr
define equi marginal principle
Dan and Ann are chemical engineers working for a biotech company. Each of them would like to be promoted to a managerial position, but only one of them can get the job. Their super
No demand forecasting method is 100% accurate. Collective forecasts develop precision and reduce the probability of huge mistakes. Methods which relay on Qualitative Assessmen
Q. Explain about Isoquant Map? We can label isoquants in physical units of output without any difficulty. Because every isoquant signifies a specified level of output it's poss
WHAT ARE THE PRINCIPLES OF MANGERIAL ECONOMICS
diagram of production function with one varaible
Northern Lumber operates a large lumber-processing mill in a small town in Washington State. It is one of the larger lumber producers in the region and has some market power in th
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