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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'.
break event point
The economic cost Unemployment represents a terrible waste of resources and means that the economy is producing a lower rate of output than it could do if there were full empl
Why does the demand curve slope downwards? As Figure above demonstrates, demand curve slopes downward to the right. Downward slope of the demand curve reads the law of demand i
The relationship between, total expenditure and price elasticity of demand has summed up in the below table: Table: Elasticity and Consumption Expenditure Elas
FACTORS RESPONSIBLE FOR WAGE DIFFERENTIALS WITHIN THE SAME OCCUPATION i. Differences in the environment: For example a doctor sent to North Eastern Province must be pai
is the sales maximization applicable
1. Explain the industry and describe the general pattern of change of the particular market model. 2. Hypothesize the basic short-run and long-run behaviours of the model in the
Location problem in the plane: In Kent, the council to respond to the people and government needs, it decided to establish 3 community care homes. The towns are recorded with t
with the of evidence comprehensively discuss the market structure in the south African mobile telecommunications industry
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
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