Reference no: EM131152898
THE DEMAND AND SUPPLY MODEL
Managerial economics utilizes tools from economic theory and econometrics to derive optimal solutions to managerial decision problems.
Read the background material and then write a 3 to 4 page report describing the diverse tools that managerial economics uses to derive optimal solutions, i.e., explain, using a variety of examples, the main tools of economic theory (the theory of markets, the role of prices, and the drive to profit maximization). Then express your views on the following questions:
• Are these concepts, tools and methodologies universal? That is, do they apply to any institutions? For example, do they apply to the military? Or to City Hall? If not, should they?
• Can a company that operates in the market afford to be inefficient (i.e., to waste resources)? For how long? What about the military? Or City Hall? That is, what are the forces and incentives that, in your opinion, are present in the market and absent in the military and in City Hall?
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Change the implementation of the stringofcars class
: You will change the implementation of the StringOfCars class, but keep the public interface. This implementation will use a linked list, rather than an array or vector to hold the cars.
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Find the equivalent state of stress on an element
: Determine the equivalent state of stress on an element at the same point that represents the principal stresses at the point. Also, find the corresponding orientation of the element with respect to the element shown.
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Develop the limitations and methods to solve given problem
: Develop the limitations and methods to solve to what is written in the problem and scope: - the limitations are:- the advisor himself- university, the administration might ntbe interested in hiring new advisors.
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What is the companymission statement
: What is the company's mission statement? What is the company's vision statement? What role do these have on the way the business operates? Do the company's actions seem to align to their vision and mission statements
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Are these concepts tools and methodologies universal
: Are these concepts, tools and methodologies universal? That is, do they apply to any institutions? For example, do they apply to the military? Or to City Hall? If not, should they
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Determine the equivalent state of stress on an element
: Determine the equivalent state of stress on an element at the point which represents (a) the principal stresses and (b) the maximum in-plane shear stress and the associated average normal stress. Also, for each case, determine the corresponding or..
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What fictional or famous person will you use for your paper
: Identify and define the theory you will use. Include the source for your definition of the theory. If you use a direct quote, put it in quotation marks. Add one sentence, in your own words, defining the theory. Provide the source you used to hel..
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Determine the equivalent state of stress on an element
: Determine the equivalent state of stress on an element at the same point oriented 60° clockwise with respect to the element shown. Sketch the results on the element.
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Explain the potential price elasticity of demand
: Identify a product and explain the potential price elasticity of demand for this product. Justify your position with adequate details based on the research and analysis
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