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MEANING OF MANAGERIAL ECONOMICSManagerial economics which is used synonymously with business economics is a branch of economics which deals with application of microeconomic analysis to decision-making techniques of businesses and management units. It behaves as the via media between pragmatic economics andeconomic theory. Managerial economics bridges the gap between 'pracis'and 'theoria'. The beliefs of managerial economics have been derived from quantitative techniques likecorrelation, regression analysis and Lagrangian calculus (linear).
Advantages of Product Differentiation We can distinguish between those advantages for the firm itself and those for the consumer: a. For the firm. i.
USES OF NATIONAL INCOME FIGURES We need national income statistics to measure the size of the "National cake' of goods and services available for competing uses o
Q 3. What is Demand Forecasting? Explain in brief various methods of forecasting demand.
sealed bid pricing
Define the term forecasting As the term 'forecasting' may appear technical, planning for future is a critical aspect of managing any business or anorganisation. The long-term
It can be geometrically proved that two elasticity are equal, which is., QB=RD Let's first consider ΔAOB. If we draw a horizontal line from point Q to intersect the vertical axis a
Explain Managerial economics according to Mote and Paul Haynes, Mote and Paul: "Managerial economics refers to those characteristics of economics and its tools of analysis mos
FACTORS AFFECTING THE ABILITY OF TRADE UNIONS TO GAIN LARGER WAGE INCREASES FOR ITS MEMBERS The basic factor is elasticity of demand for the type of labour concerned. The ela
Q. Explain the Efficiency wage model? Efficiency wage models such as Shapiro and Stiglitz (1984) suggest wage rents as an addition to monitoring, because this gives employees a
Comment on the consequences of environmental degradation on the economy of a community.
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