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What is Normative economics
It is concerned with varied corrective measures which a management undertakes under different circumstances. It deals with goaldevelopment, goal determination and achievement of these goals. Policy-making, Future planning, optimal utilisation and decision-making of available resources comes under the banner of managerial economics.
Q. Describe MRPL and profit maximisation? The common rule is that firm maximises profit by producing that quantity of output where marginal revenue equals marginal costs. Profi
PROBLEMS OF USING PER CAPITA INCOME TO COMPARE STANDARD OF LIVING OVER TIME 1) The composition of output may change. e.g. more defence-related goods may be produced and
Collective bargaining Collective bargaining refers to the whole process by which trade unions and employers (or their representatives) arrive at an enforce agreements. Tra
Ask questiHow does economic theory contribute to managerial decisions? on #Minimum 100 words accepted#
WAGE DETERMINATION, POLICY AND THEORIES Wages and salaries are rewards to labour as a factor of production of goods and services. In ordinary speech a distinction is frequent
Write the forecasting techniques There are many forecasting techniques available to person assisting the business in planning its sales. Take for instance a forecasting metho
Features of Planned Economy The command economies relies exclusively on the state. The government will decide what is made, how it is made, how much is made and how distribut
What is Managerial economics according to Spencer and Siegelman Spencer and Siegelman: Managerial economics is "the integration of economic theory with business practice for t
Q. Show the Empirical analysis? Empirical analysis aimed at investigating nature of scale economies, degree of input complementarily orsubstitutability, or the nature and exten
what is asset market theory theory in environmental economics?
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