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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.
How will you influence people to strive willingly for group objective in your organization (target based industry)? Apply your interpersonal influence through communication process
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Explain the limitations of managerial economics
what is profit planning?
What are the Methods of Managerial Economics The process of managerial economics deals with aspects of economics and tools of analysis, which are employed by business enterpri
LONG RUN OUTPUT In the LR whether or not the firm makes profit will depend on the conditions of entry. For example, when surplus profits exist, there will be new entrants bec
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