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Describe the Application of economic theories
Pertinent business decisions necessitate an unambiguous understanding of the environmental and technical conditions under which business decisions are taken. Application of economic theories to explain as well as analyse business environment andtechnical conditions, contributes greatly to rational decision-making process. Economic theories have many pronged applications in the analysis of practical problems of business. Keeping in mind the escalating complexity of business environment, efficacy of economic theory as a tool of analysis and its contribution to process of decision-making has been extensively recognised
The city of Cabernet is very popular for its production of wine. The inhabitants of the city have an aggregate demand for wine that can be described as follows: where Q d
Q. Example on Changes in fixed costs and profit maximisation? What if arena owner in the illustration above triples the fee for the subsequent concert but all other factors are
structure of managerial economics
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
1.Is Indian companies running a risk by not giving attention to cost cutting?
Question: i) The manager of Top Rock Company is introducing a new product that will yield $200 millions in profits if the economy does not go into recession. However, if a rec
Assignment
Explain the importance of Managerial economics Managerial economics bridges the gap among 'theoria' and 'pracis'. The tenets of managerial economics have been derived from quan
Indifference Curve Analysis In the 1930s a group of economists, including Sir John Hicks and sir Roy Allen, came to believe that cardinal measurement of utility was not necess
demand definitions
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