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Theories associated with different market structures
A firms profit maximising output decisions take into account the market structure under that they operate. There are 4 types of market organisations: monopolistic competition, perfect competition, oligopoly and monopoly. All the above theories are analysed with the help a vast and varied quantitative techniques andtools.
Q. Relation between average cost and marginal cost? Relationship between MC and AC are the following: If MC is below AC then AC should be falling. This is because, if MC
structure of managerial economics
what are functions of management
Resource allocation in a free enterprise Although there are no central committees organising the allocation of resources, there is supposed to be no chaos but order. The major
Describe and answer in economic terms a managerial decision you have knowledge about (for example one that has to be made at your place of employment). Some examples of decisions a
critically analyze the of profit maximization
What is the meaning of demand In economics, demand has a specific meaning distinct from its ordinary usage. In common language we treat 'desire' and 'demand' as synonymously. T
THE BUDGET The budget is a summary statement indicating the estimated amount of revenue that the government requires and hopes to raise. It also indicates the various sources
if market demand is Q= 30 - 3P how do you write the marginal revenue function as a function of Q
Problem 1: All economies of the world can be said to be ‘mixed', to a greater or lesser degree, in that there is no economy where there is no state activity and no economy wher
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