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Describe the Forecasting method in managerial economics
It is a technique or a method to predict many future aspects of a business or any other operation. For illustration, a retailing firm which has been in business for the last 25 years can be interested in forecasting the likely sales volume for the coming years. Many forecasting techniques can be used to attain this goal. A forecasting technique for instance, can provide such a projection based on the experience of firm during the last 25 years; which is, this forecasting technique bases the future forecast on past data.
TYPES OF BUDGETS 1. Deficit budget If the proposed expenditure is greater than the planned revenue from taxation and miscellaneous receipts, this is a budget defic
What is advertising elasticity? Explain
Monetary Theory We have seen that Schumpeter theory which runs in terms of innovations and technical change, is at best an incomplete explanation of trade cycle . there are eco
What is increasing marginal cost? Felix’s marginal cost is greater the more lawns he has previously mowed. It is, every time he mows a lawn, the extra cost of doing still anoth
Another vital relationship that is often referred to in economic analysis is the relationship between consumption expenditure andprice elasticity. From the law of demand, we know t
p=10, TC= 1000+2Q+.01Q^2, Q=?
a critique of the relevance of managerial economics
POPULATION SIZE AND DEMOGRAPHIC TRENDS a. Changes in Population The people of a country are its consumers. They provide the labour force for production. A study of
A firm faces a perfectly elastic demand for its output at a price of $6 per unit of output. The firm, Though, faces an upward-sloped labor supply curve of E= 20w-120 W
Free disk space can be kept track of using a free list or a bit map. Disk addresses require D bits. For a disk with B blocks, F of which are free, state the condition under which t
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