eceonomic therios, Managerial Economics

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Methods which rely on quantitative data: Rule-based forecasting Data mining Quantitative analogies Discrete event simulation Neural networks Extrapo

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The Determination of the Value Money   Since money is primarily a medium of exchange, the value of money means what money will buy.  If at one time a certain amount of money

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What are the significant tools of the perfect competition and the supply curve? Perfect Competition and the Supply Curve: a. In Perfect competition the characteristics of a

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THEORY OF COMPARATIVE ADVANTAGE In his theory put forward in a book published in 1817, David Ricardo argued that what was needed for two countries to engage in international t

Describe the meaning of managerial economics, MEANING OF MANAGERIAL ECONOMI...

MEANING OF MANAGERIAL ECONOMICS Managerial economics which is used synonymously with business economics is a branch of economics which deals with application of microeconomic ana

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Marginal utility approach The downward sloping nature of the demand curve can be explained by using the law of diminishing marginal utility .  For instance, consider a consum

Types of pricing, example problems for the types of pricing

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Long run equilibrium of a firm under perfect competition, In the long run, ...

In the long run, because of the assumption of free entry and exit of the firms, it's not possible for the firms to make super-normal profits nor it is possible for them to incur lo

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