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Traditional theoretical concepts to actual business behaviour
Accommodating traditional theoretical concepts to actual business behaviour and conditions: Managerial economics amalgamatestechniques, tools, theories and models of traditional economics with actual business practices and with environment in that a firm has to operate. According to Edwin Mansfield, 'Managerial Economics try to bridge the gap between purely analytical problems which intrigue many economic theories and problems of policies which management should face'.
firms both in monopolistic and perfect competition tend to make normal profits but why do they criticize only monopolistic competition
Factors affecting the long run trend of the Terms of Trade for developing countries Most Third World countries have been faced by a fall in their terms of trade over the long
Using the CPS data, set the sample to women only and regress lnwage on education & MARRIED (which is 1 if married and 0 if not) and 1-MARRIED. Give a 95 percent confidence interval
What is Microeconomics It studies the principles and problems of an individual business firm or an individual industry. It services the management in evaluating and forecasting
Q. Optimal Input Combination for Maximisation of Output? Equilibrium conditions of the firm are identical to the above situation which is, iso-cost line must be tangent to the
External Debt Problem External debt refers to debt owing by one country to another. External debt is a more serious problem than internal debt because the payment of interest
gap between economic theory and business practice
The elasticity of a demand curve is frequently judged by its appearance: the flatter the demand curve, the greater the elasticity and vice versa. However this conclusion is mislead
scope of marginal costing
Determinants of Demand Price elasticity of demand fluctuates from commodity to commodity. Whereas the demand of some commodities is highly elastic, demand for others is highly
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