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Significance of managerial economics Industrial and Business enterprises aim at earning maximum proceeds. In order to attain this objective, a managerial executive has to take
Compensatory Financing Two other schemes for alleviating the effects of commodity trade instability have been operating for a number of years. These are the IMF's Compensator
Explain the role scarcity of resources plays in economics decision making
State the Specific Time of demand Demand should be assigned specific time. For instance, it is an incomplete proclamation to state that demand of air conditioners is 4,000 at t
Q. Relation between average cost and marginal cost? Relationship between MC and AC are the following: If MC is below AC then AC should be falling. This is because, if MC
with the of evidence comprehensively discuss the market structure in the south African mobile telecommunications industry
Assumptions of Monopolistic Competition Monopolistic competition as the name implies, combines features from both perfect competition and monopoly. It has the following featu
SHORT RUN EQUILIBRIUM OF THE FIRM A firm is in equilibrium when it is maximizing its profits, and can't make bigger profits by altering the price and output level for its prod
Gross Domestic Product A measure of national economic activity, GDP is measured from two approaches. GDP can be viewed as the total value of all goods and services produced in
Factors affecting the total market demand These are broadly divided into the determinants of demand and conditions of demand. (a) Own price of the product This
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