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Significance of managerial economics
Industrial and Business enterprises aim at earning maximum proceeds. In order to attain this objective, a managerial executive has to take recourse in decision-making that is the process of selecting a specified course of action from some alternatives.
A sound decision necessitates fair knowledge of the aspects of economic theory and tools of economic analysis that are directly involved in the process of decision-making. Because managerial economics is concerned with these tools and aspects of analysis, it's appropriate to the decision-making process
The production function of the personal computers for DISK Company is given by Q = 10 KL where Q is the number of computers produced per day, K s the hours of machine time,
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
what is equi marginal concepts?
The war on drugs is an expensive battle, as a great deal of resources go into catching those who buy or sell illegal drugs on the black market, prosecuting them in court, and housi
Question 1: "Anyone who is willing to learn the language of economics and take the time to practice making decisions can learn to be an effective manager." Explain how. Qu
critically analyze the firm''s theory of profit maxmization
Theory of Capital and Investment: Theory of Capital and Investment evinces the below significant issues: Selection of a viable investment project Efficient allocatio
(Kinky Demand Curve) Short Period Kinked demand curve was first used by Prof. Paul M. Sweezy to elucidate price rigidity under oligopoly. In an oligopoly market, firm knows that
Q. Define Profit maximisation theory? Profit maximisation theory defines that firms (corporations orcompanies) will establish factories where they see potential to achieve the
Unit Elasticity of Supply Supply is said to be of unit elasticity if changes in price bring about changes in quantity supplied in the same proportion. Thus, when price rises,
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