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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).
Explain trend projection method of demand forecasting with illustration.
For some time, two firms have charged $0.90 per standard unit of crating materials for shipping a particular type of machine tool and each has been selling about 20,000 units per m
how equilibrium output can be find in williamson model
Q. What do you mean by Theory of Firm? Microeconomics especially the theory of firm, assumed importance and attracted considerable attention in the early 20 th century. This sh
State the Demand analysis Analysis of demand is assumed to forecast demand that is a basic component in managerial decision-making. Demand forecasting is of importance since
the benefits of exchange in the light of the law of association, the introduction of money in direct exchange and way income gets distributed among market participants
Imagine of these concepts (markets, elasticity, production, costs, market structures). Take one or two of those concepts and use it to examine and understand economic situations o
Cross-elasticity is the measure of responsiveness of demand for a commodity to the changes in price of its substitutes and complementary goods. For example, cross-elasticity of dem
introduction, evaluation,principle, activities concept behind Gatt & wto
(i) Do the laws of economics still work today? (use the case discussed in class to answer this question or any other examples) (ii) Provide examples of three factors that can sh
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