Question 1:

(a) Describe how asymmetric information influences the price system and resource allocation. Provide examples to support your answer.

(b) Managerial decision-making involves uncertainty and risk. Analyse the possible behaviours of managers towards risk.

Question 2:

(a) Distinguish between income elasticity, price elasticity and cross elasticity of demand.

(b) Show how the manufacturer of mobile phones can use the concept of elasticity in pricing decision.

Question 3:

(a) Compare and contrast the profit maximizing behaviour and output decision of the perfectly competitive firm and the monopolist in the long run.

(b) Explain three different models of oligopoly. Support your answer with appropriate examples.

Posted Date: 11/20/2013 1:48:27 AM | Location : United States

Ask an Expert

Related Discussions:- Explain managerial decision-making, Assignment Help, Ask Question on Explain managerial decision-making, Get Answer, Expert's Help, Explain managerial decision-making Discussions

Write discussion on Explain managerial decision-making
Your posts are moderated

Write your message here..

Related Questions

Explain the demand analysis - managerial economics, Demand analysis Dem... Demand analysis Demand analysis is undertaken to forecast demand, which is a fundamental constituent in managerial decision-making. Demand forecasting is of important because a

#titwillliomson model, explian williomson model of managerial discretion explian williomson model of managerial discretion

Theories of the firm, Define Williamson''s Model of Managerial Discretion p... Define Williamson''s Model of Managerial Discretion practice?

Monopolistic versus perfect competition, firms both in monopolistic and per... firms both in monopolistic and perfect competition tend to make normal profits but why do they criticize only monopolistic competition

Advantages of the mixed economy, Advantages of the Mixed Economy Neces... Advantages of the Mixed Economy Necessary services are provided in a true market economy, services which were not able to make profit would not be provided. Incentive:  Sin

Explain supernormal equilibrium, Q. Explain Supernormal Equilibrium? S... Q. Explain Supernormal Equilibrium? Supernormal Equilibrium: E is the point of stable equilibrium as MC = MR and MC cuts the MR from below.   Figure: Supernormal Equ

Point elasticity of demand, Calculate point elasticity of demand for demand... Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2

Equilibrium national income in a frugal economy, Equilibrium National Incom... Equilibrium National Income in a Frugal Economy Saving and investment are examples of two categories of expenditure called withdrawals and injections.  A WITHDRAWAL is any inc

A chemical producer dumps toxic waste into a river, A chemical producer dum... A chemical producer dumps toxic waste into a river. The waste decreases the population of fish, decreasing profits for the local fishing industry by $100,000 per year. The firm cou

Chapter one, question 1, Managerial Economics question 1, Managerial Economics