#titwillliomson model, Managerial Economics

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explian williomson model of managerial discretion

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Economic situations or decisions, Imagine of these concepts (markets, elast...

Imagine of these concepts (markets, elasticity, production, costs, market structures).  Take one or two of those concepts and use it to examine and understand economic situations o

Elasticity of demand, Definition of Elasticity Is defined as the ratio...

Definition of Elasticity Is defined as the ratio of the relative change of one (dependent) variable to changes in another (independent) variable, or it's a percentage change o

Factors influencing supply curve - prices of related goods, Prices of other...

Prices of other related goods i)           Substitutes:   If X and Y are substitutes, then if the price X increases, the quantity demanded of X falls.  This will lead to inc

Determine net income by product line, Fandem Technology manufactures two pr...

Fandem Technology manufactures two products using a joint process. The cost of materials going into the joint process for a typical period is $55,000, while labour and overhead to

Shift in the supply curve, Shifts in the supply curve Shifts in the su...

Shifts in the supply curve Shifts in the supply curve are brought about by changes in factors other than the price of the commodity. A shift in supply is indicated by an entir

Organization for economic development (oecd), Organization for Economic...

Organization for Economic Development (OECD) An international organization found in Paris France in 1961, to act as a worldwide forum to stimulate world trade and

#Profit as a business Objective, Write on one theory of profit. Profit as r...

Write on one theory of profit. Profit as rent of ability: one of the most widely known theories of profit was propounded by F.A. Walker. According to him profit is the rent of is t

Objectives of government in economy, OBJECTIVES OF GOVERNMENT Governme...

OBJECTIVES OF GOVERNMENT Government policies are required in market economies to achieve certain goals.  There are broadly two types of government policies viz; Microeco

The governed economy, THE GOVERNED ECONOMY The governed economy contai...

THE GOVERNED ECONOMY The governed economy contains central authorities often simply called "the government" - who levy taxes on firms and households and which engages in numer

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