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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'.
What is identity economics? How does identity economics help to explain economic questions that standard economics fails to address?
Demand for money The demand for money is a more difficult concept than the demand for goods and services. It refers to the desire to hold one's assets as money rather tha
Problems of prices and Incomes policy i. Confrontation The imposition of the prices and incomes policy, voluntary or statutory, risks the possibility of confrontation w
Average Total Costs (ATC) This is total cost per unit of output, obtained by dividing total cost by total output i.e. ATC = Total Cost Total Outp
The Microeconomic objectives of government These are the policies which are concerned with the allocation and distribution of resources to maximize social welfare. 1. Allo
Explain about Pragmatic Managerial economics is pragmatic. In pure micro-economic theory, analysis is performed based on certain exceptions that are far from reality. Though in
measurement and scaling techniques in business research
Q. Evaluate Total Cost - Fixed and Variable ? Total cost (TC) of the firm is a function of output (q). It would increase with the increase in output, which is, it differs dire
Uses of Indifference Curve Analysis Indifference curve analysis is useful when studying welfare economics as follows: They are used to indicate the amount of income and
Neoclassical Theory The neoclassical theory of economic growth began its career in the fifties and since the mid fifties a sizeable literature has developed. The theory largely
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