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Define concept of Managerial decision-making
Managerial decision-making draws on economic concepts as well as techniques and tools of analysis provided by decision sciences. The main categories of these techniques and tools are optimisation, forecasting, statistical estimation, game theory and numerical analysis. Most of these methodologies are technical. Some of them are briefly explained below to explain how tools of decision sciences are used in managerial decision-making.
classification of costs
Transitional unemployment Transitional unemployment is that situation which prevails due to some temporary reasons. The main reason for this type of unemployment are:
The International Monetary Fund The International Monetary Fund is a kind of an embryo World Central Bank. Its objectives are: i. To work towards the full convertibilit
Industry Paper: As a partial requirement for this course, you will have to submit a paper on an Industry of your choice. This is a highly structured paper, which consists of: 1.
p=10, TC= 1000+2Q+.01Q^2, Q=?
Asuume there are two inputs in the production function, labor & capital, and these two inputs are perfect substitutes. The existing technology permits one machine to do the work of
Q. Explain about Long run production function? Long run is a phase adequately long so that all factors together with capital can be changed. The factors that can be increase
WHY MANAGERS NEED TO KNOW ECONOMICS The influence of economics towards the performance of managerial duties and responsibilities is of major importance. The importance and cont
Define Williamson''s Model of Managerial Discretion practice?
The Central Bank These are usually owned and operated by governments and their functions are: i. Government's banker : Government's need to hold their funds in an ac
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