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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
Marginal Revenue Marginal revenue is the additional revenue an organization receives resulting from the sale of one more item of output. Marginal revenue is calculated by takin
Advantages of a Free Market System Incentive: People are encouraged to work hard because opportunities exist for individuals to accumulate high levels of wealth. Choice
Please read the case study given below and answer questions given. Case Study Electron Control, Inc., sells voltage regulators to other manufacturers, who then cu
Strategic Reasons For political or strategic reasons, a country may not wish to be dependent upon imports and so may protect a home industry even if it is inefficient. Many co
Optimum combination of resources The firm can maximise output given costs. That is when the entrepreneur attains the highest isoquant given a particular Isocost. At t
asumption and limitation of increemrntal,oppurtunity cost
Stable and Unstable Equilibrium An equilibrium is said to be stable equilibrium when economic forces tend to push the market towards it. In other words, any divergence from t
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
Cheap Labour It is often argued that the economy must be protected from imports which are produced with cheap, or 'sweated", labour. Some people argue that buying foreign
functions of economic development corporation
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