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Question 1:
"Anyone who is willing to learn the language of economics and take the time to practice making decisions can learn to be an effective manager." Explain how.
Question 2:
The management board wishes to investigate the demand for powdered milk in Mauritius.
(a) What do you consider to be the most important factors affecting the demand for milk?
(b) Explain how the various concepts of elasticities can assist in making decisions?
Question 3:
Discuss the factors influencing the decisions to enter the market of a product with which you may be familiar.
Question 4:
"Collusion is the likely outcome in every oligopolistic industry". Discuss.
Question 5:
"Profit is maximised when marginal revenue is equal to marginal cost. This must be the only way to reap maximum profit." Do you agree? Use examples to illustrate.
Question 6:
Describe why government intervenes and how these affect managerial decisions?
A firm's technology needsit to combine 5 person-hours of labor with 3 machine-hours to make 1 unit of output. The firm has 15 machines in place and the wage rate rises from $10 per
Open Market Operations Open market operations is another traditional or quantitative weapon at the disposal of central bank to control the volume of aggregate bank credit in t
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Q. Explain the Efficiency wage model? Efficiency wage models such as Shapiro and Stiglitz (1984) suggest wage rents as an addition to monitoring, because this gives employees a
what is line balancing for paper machine?
We can analyse the equilibrium of a firm under Perfect Competition in both the long run as well as in the short-run. SHORT RUN EQUILIBRIUM OF A FIRM UNDER PERFECT COMPETITION
State the Meaning of managerial economics Managerial economics, used synonymously with business economics, is a study of economics that deals with the application of microecono
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