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Properties of Indifference Curves An indifference curve is usually convex to the origin. Indifference curves slope downwards from left to right. A set
what is the importance of demand forecasting to managers
No demand forecasting method is 100% accurate. Collective forecasts develop precision and reduce the probability of huge mistakes. Methods which relay on Qualitative Assessmen
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Define the simple statistical concepts of average Simple statistical concepts of average (mean) and standard deviation are used. Estimating a relationship among variables need
“Managerial economics involves use of economic analysis to make business decisions involving the best use of a firm’s scarce resources” Explain the statement with suitable example.
Bain''s limit pricing theory advantages and disadvantages
MONOPOLISTIC PRACTICES The following practices may be said to characterize monopolies. Exclusive dealing to supply and collective boycott Producers agree to supply onl
Define Williamson''s Model of Managerial Discretion practice?
A firm can produce steel with or without a filter on its smokestack. If it produces without a filter, the external costs on the community are $500,000 per year. If it produces with
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