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Managerial economics according to Mote and Paul "Managerial economics refers to those aspects of economics and its tools of analysis most relevant to the firm's decision-making
You have recently gained employment with a computer consultancy company. Due to your specialist knowledge in the areas of Human Factors and usability, your manager considers that y
Thinking about modifications in the model again: Go back to the original model again, but add a marginal propensity to invest, this is, suppose that I = f ( i and Y). The MPI is d
Elasticity of Demand As the law of demand establishes a relationship between quantity demanded and price for a product, it doesn't tell us exactly as how weak or strong the rel
Relevance of The Law of Diminishing Returns The law of diminishing returns is important in that it is seen to operate in practical situations where its conditions are fulfille
Desire for a commodity This validates that a want or a desire doesn't develop into a demand except it is supported by the ability and willingness to acquire it. For example, a
What is decreasing marginal cost? All additional lawn mowed generates less benefit than the earlier lawn à along with decreasing marginal benefit; every additional unit generat
Q. Central characteristics of Simon satisfying behaviour model? The pattern of policy commitments which result from the bargaining process can be seen to be a specification of
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Explain the importance of managerial economics.
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