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define scarcity and oppurtunity cost.show how these concepts are useful in managerial decision making
if market demand is Q= 30 - 3P how do you write the marginal revenue function as a function of Q
Describe the Managerial functions A manager has to take numerous decisions that conform to the objectives of the firm. Several business decisions fall prey to conditions of ris
#quest Describe the oligopoly market structure and give some examples.ion..
The Consumption Function The consumption function is the relationship [expressed in mathematical or diagrammatic form] between planned consumption and other independent varia
Define theVariable factor of production The input level of a variable factor of production can be diverse in the short run. Raw material inputs are believed as variable fact
Michael was discussing the importance of production analysis and cost analysis to managerial economics with a final year Open Campus student. The final year student, Catherine, sta
Q=5K0.4 L0.6 WHERE K is number of mchine,L s number of labour, price of unit is RM24 & wages og each lanour rm12. the company constraint by it budget rm 1500 per time period. a) co
asumption and limitation of increemrntal,oppurtunity cost
what are the criticisms of it
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