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Problem 1:
The national budget exercise is nothing more than a political exercise. Discuss.
Problem 2:
a. What do economists mean by the term ‘efficiency'?
b. What are merit goods? What is government's role in redistribution?
c. Why might government intervene in the in the market's allocation of resources, even when it is Pareto efficient?
Problem 3:
Even if there is no consensus over the use of cost-benefit analysis, cost-effectiveness is a goal that can draw on wide support.
Determine the concept of Law of demand We have considered numerous factors which fashion the demand for a commodity. As explained the first and most important factor which determ
What limitations are inherent in the economist’s view of pricing?
The most significant uses of the price elasticity of demand, used specifically in business decision-making. It refer to the relationship between price elasticity and the marginal c
The emergence of managerial economics as a separate course of management studies can be attributed to at least three factors: 1. Growing complexity of business designs maki
Define concept of Managerial decision-making Managerial decision-making draws on economic concepts as well as techniques and tools of analysis provided by decision sciences. T
Cross Elasticity Cross elasticity of demand measures the degree of responsiveness of the quantity demanded of one good (B) to changes in the price of another good (A). It is
The production function can have many uses. It can be used to compute least-cost factor combination for a given output or maximum output combination for a given cost. Knowledge of
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Ask questiHow does economic theory contribute to managerial decisions? on #Minimum 100 words accepted#
Q. Proportion of Market Supplied - Determinants of Demand? Price elasticity of market demand moreover relies on the proportion of market supplied at the determined price. If le
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