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Describe the Managerial functions
A manager has to take numerous decisions that conform to the objectives of the firm. Several business decisions fall prey to conditions of risk and uncertainty. Risk and uncertainty arise chiefly because of volatile market forces, changing business environment, government policy, emerging competitors with highly competitive products,external influences on domestic market and political and social changes in the country. The intricacy of modern business world weaves complexity in to decision making process of a business. Though the degree of risk and uncertainty can be greatly condensed if market conditions are computed with a high degree of reliability. Envisaging a business environment in the future doesn't suffice. Appropriate business decisions and formulation of a business strategy in conformity with the objectives of the firm hold similar significance.
Decrease in Demand At the initial equilibrium price P 1 , quantity demanded falls from q 1 to q d . But the quantity supplied is still q 1 at this price. Hence, this
Neoclassical Theory The neoclassical theory of economic growth began its career in the fifties and since the mid fifties a sizeable literature has developed. The theory largely
A risk-neutral agent's working life has two periods. In each period, the agent can provide high effort (at personal cost $2,000) or low effort (at zero personal cost). In a given p
how much output should a firm produce? 80$ per unit C(Q)=40+8Q+2Qsquared
The relationship between, total expenditure and price elasticity of demand has summed up in the below table: Table: Elasticity and Consumption Expenditure Elas
Unit Elasticity of Supply Supply is said to be of unit elasticity if changes in price bring about changes in quantity supplied in the same proportion. Thus, when price rises,
Illustrate about forecasting in management A forecast expert has been asked to provide quarterly estimates of the sales volume for a specific product for the next four quarters
Define the Managerial economics Managerial economics is thus a study of application of managerial skills in economics. It assists in determining, anticipating and resolving po
Direct Action Direct action in more than one from has been employed by the central banks either as an alternative to their discount rate policy or open market operations or tog
Q. Characteristics of perfect competition market? Following are the characteristics of perfect competition market: • Large Number of Sellers andBuyers: As there are a lar
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