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Determine the Application of managerial economics
Application of managerial economics isn't restricted to profit-seeking business organisations. Tools of managerial economics can be applied equally well to decision problems of non-profit organisations. Mark Hirschey and James L. Pappas mention the example of a non-profit hospital making use of managerial economics techniques for optimisation of resource use. Whereas a non-profit hospital isn't like a typical firm seeking to maximise its profits, a hospital does strive to offer its patients the best medical care possible given its limited staff (nurses, doctors and support staff), equipment, space and all other resources.
THE IMPACT OF INFLATION Inflation has different effects on different economic activities on both micro and macro levels. Some of these problems are considered below: i.
INTERNATIONAL FINANCIAL INSTITUTIONS In July 1944, a conference took place at Bretton Woods in New Hampshire to try to establish the pattern of post-war international monetary
mini project on demand function
Real and nominal wages Wages are wanted only for what they will buy, real wages being wages in terms of the goods and services that can be bought with them. Nominal wages
Determine the uses of Managerial economics Managerial economics studies the application of the principles, methods and techniques of economics to managerial problems of busine
Monetary policies This is the direction of the economy through the variables of money supply and the price of money. Expanding the supply of money and lowering the rate of in
Let consider the following game among an employer (Katharine) and an employee (Kevin). Katharine needs Kevin to work hard rather than loaf around and that is why she considers spe
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,
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what are the examples of the types of elasticity (price,income & cross elaticity
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