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Techniques of Managerial Economics
Managerial economics draws on a wide range of economic tools, concepts and techniques in decision-making process. These concepts can be considered as follows:
(1) Theory of the firm that explains how businesses make a diversity of decisions;
(2) Theory of consumer behaviourthat describes consumer's decision-making process and
(3) Theory of market structure and pricing that describes the structure and characteristics of different market forms under that business firms operate.
The variance of the OLS estimator is VAR( ^B)=σ 2 /ns 2 x , where s 2 x =£x 2 /x You're hired to estimate and you're going to be paid according to the accuracy of your esti
explain perspective of managerial economics
The Learned Book Company has a choice of publishing one of two books o the subject of Greek mythology. It expects the sales period for each to be extremely short, and it estimates
Fixed costs are those that are independent of output. They should be paid even if firm produces no output. They wouldn't change even if output changes. They remain fixed whether ou
how much output should a firm produce? 80$ per unit C(Q)=40+8Q+2Qsquared
Function of Money Markets The money markets are the place where money is "wholesaled". As such the supply of money and interest rate which are of significance to the whole ec
Question: a. What are the basic attributes in designing a good tax system? b. Explain briefly how tax systems affect economic efficiency. c. The trade unionists advocat
Give short answer of following (a) Economics as a science. (b) Engineering Economics. (c) Economic Problem. (d) Meaning and characteristics of utility. (e)
Problem: (a) Explain with the help of a diagram, the effect on a consumer's equilibrium, of an increase in the price of commodity X while the consumer's money income and price
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