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The emergence of managerial economics as a separate course of management studies can be attributed to at least three factors:
1. Growing complexity of business designs making process due to changing market conditions and business environment
2. Consequent upon, the increasing use of economic logic, concepts, theories and tools of economic analysis in the process of business design making, and
3. Rapid increase in demand for professionally trained managerial manpower. Let us have a glance at how these factors have contributed to the creation of managerial economics as a separate branch of study.
Utility Analysis or Cardinal Approach: The Cardinal Approach to the theory of consumer behavior is based upon the concept of utility. It assumes that utility is capable of meas
Ingrid and Jeff would like to use Saturday night together but have dissimilar tastes in entertainment. Jeff would like to go to the opera but Ingrid would prefer to see soccer. As
assignment
distinguish between industry demand and firm company demand
Q. Characteristics of perfect competition market? Following are the characteristics of perfect competition market: • Large Number of Sellers andBuyers: As there are a lar
You have recently gained employment with a computer consultancy company. Due to your specialist knowledge in the areas of Human Factors and usability, your manager considers that y
define equi marginal principle
How we can measure Elasticity of demand Though a manager requires an exact measure of this relationship for appropriate business decisions. Elasticity of demand is a measure t
Airbus Boeing Demand P = 182.868 - 0.0003Q P = 198.6592 - 0.00013Q TVC Curve TVC = 104.8822Q - 0.001Q^2 + 0
1. What is the difference between a static (master) budget and a flexible budget? Ans: static budget is where a budget doesn't change a volume changes. An example could be th
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