Economic situations or decisions, Managerial Economics

Imagine of these concepts (markets, elasticity, production, costs, market structures).  Take one or two of those concepts and use it to examine and understand economic situations or decisions that you face in you're your company.  If you can't apply these concepts to your workplace you may use current news items.  I would like you to:

-    Illustrate how the economic concepts give a framework for understanding the situations or decisions.

-    Use economic concepts (goals, constraints, decision variables) to frame decision making (i.e. market structure will verify what decisions are available to a firm, such as a firm selling commodities largely has no control over price).  This will contain understanding what decisions are available (what are the tradeoffs?) and how to use economic concepts to choose between available alternatives to make the most informed decision.

Posted Date: 3/22/2013 4:17:26 AM | Location : United States







Related Discussions:- Economic situations or decisions, Assignment Help, Ask Question on Economic situations or decisions, Get Answer, Expert's Help, Economic situations or decisions Discussions

Write discussion on Economic situations or decisions
Your posts are moderated
Related Questions
Discuss some of the effects of the economic downturn on supply, demand, inferior goods, complimentary goods, substitute goods, and price. words accepted#

What is identity economics? How does identity economics help to explain economic questions that standard economics fails to address?

In the country of Sleep-well, the inhabitants' main activity is... sleeping. Despite the loss of productivity that this entails, the country has a profuse and renowned production o

Tomato Farm is selling tomatoes in a purely competitive market. Its output is 5000 bushels, which sell for $15 a bushel. At this level of output, the marginal cost is $15 bushel an

Define the shift in demand curve To put it differently, demand for a commodity means entire demand schedule that demonstrates the varying amounts of goods purchased at alternat

Q. Explain about Delphi method? Delphi method: This is a systematic, interactive forecasting method that depends on a panel of experts. Experts answer questionnaires in two o

Substitution Effect on law of demand When price of a commodity falls it becomes comparatively cheaper if price of all other related goods, particularly of substitutes, remain c

THE KEYNESIAN THEORY OF CONSUMPTION FUNCTION The theory was developed during the Great Depression which plagued Europe and America.  During this time, there was excess capacit

How relevent is managerial dicretion in developing countries?

THE COMPANY WOULD TO INCREASE THE PRICE OF STEEL IT SELLS BY 6% THE MANAGEMENT FORECAST ED THAT INCOME WILL RISE BY 4% NEXT YEAR AND THAT PRICE OF ALUMINIUM WILL FALL BY 2%. IF THE