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Determine the studies of Managerial economics
Managerial economics studies the application of techniques, principles as well as concepts of economics to managerial problems of industrial and business enterprises. The term is used interchangeably withmicroeconomics, business economics, economics of enterprise, managerial analysisand applied economics and so on. Managerial economics lies at the junction of economics and business management and traverses the hiatus between the two disciplines.
Managerial Economics helps create utility for the Society.
Substitution Effect on law of demand When price of a commodity falls it becomes comparatively cheaper if price of all other related goods, particularly of substitutes, remain c
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Equilibrium Income In this model, aggregate desired expenditure has three components: Consumption, Investment and Government Expenditure:
Q. Explain about Labour Economies? Labour Economies: As the size of output increases the firm enjoys labour economies because of (a) specialisation, (b) time-saving (c) autom
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