Concepts of elasticities in making decisions, Managerial Economics

Assignment Help:

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?


Related Discussions:- Concepts of elasticities in making decisions

International financial institutions, INTERNATIONAL FINANCIAL INSTITUTIONS ...

INTERNATIONAL FINANCIAL INSTITUTIONS In July 1944, a conference took place at Bretton Woods in New Hampshire to try to establish the pattern of post-war international monetary

Optimal input combination for maximisation of output, Q. Optimal Input Comb...

Q. Optimal Input Combination for Maximisation of Output? Equilibrium conditions of the firm are identical to the above situation which is, iso-cost line must be tangent to the

Describe the gift exchange model of reciprocity, Q. Describe the gift excha...

Q. Describe the gift exchange model of reciprocity? George Akerlof (1982) develops a gift exchange model of reciprocity in that employers offer wages unrelated to variations in

Keynes theory , Keynes Theory Keynes views about trade cycle entitled ...

Keynes Theory Keynes views about trade cycle entitled notes on the trade cycle of his classic the general theory of employment interest and money published in 1936. Although K

Public Debt, what are the Sources of public debt

what are the Sources of public debt

Cheap labour - reason for protection, Cheap Labour   It is often argu...

Cheap Labour   It is often argued that the economy must be protected from imports which are produced with cheap, or 'sweated", labour.  Some people argue that buying foreign

Implications for the shape of cost function, Q. Implications for the shape ...

Q. Implications for the shape of cost function? A cost function is also a mathematical relationship, one which relates the expenses an organisation incurs on the quantity of ou

What are the essential points to determine in monopoly, What are the essent...

What are the essential points to determine in monopoly? Points essential to determine in monopoly: a. The importance of monopoly, where a particular monopolist is the merely

Explain discrete-event simulation, Q. Explain Discrete-event simulation? ...

Q. Explain Discrete-event simulation? Discrete-event simulation: Operation of a system is signified as a chronological sequence of events. Every event take place at an instan

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd