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The emergence of managerial economics as a separate course of management studies can be attributed to at least three factors: 1. Growing complexity of business designs maki
Determine the Managerial economics techniques Though the most frequent applications of these techniques are as below: Risk analysis: Numerous models are used to quantif
Economics is generally defined as the problem of how best to allocate limited resources, limited because needs are characterized as unlimited, but common sense tells us that rather
critically analyze the firm''s theory of profit maxmization
managerial principles to consider when determining level of output of afirm
Theories associated with different market structures A firms profit maximising output decisions take into account the market structure under that they operate. There are 4 type
what is meant by equi-marginal concept
A company is selling a particular brand of tea and wishes to introduce a new flavor. How will the company forecast demand for it.
What is the role of scarcity in management decisions-making
Market Structures This refers to the nature and degree of competition within a particular market. Capitalist economies are characterised by a large range of different market
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