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Explain Managerial economics according to Mote and Paul
Haynes, Mote and Paul: "Managerial economics refers to those characteristics of economics and its tools of analysis most relevant to the firm's decision-making process". By definition, consequently, its scope doesn't extend to macro-economic theory and economics of public policy, an understanding of which is also necessary for the manager.
p=10, TC= 1000+2Q+.01Q^2, Q=?
examine the endogenous and exogenous determinants of money supply
Q. Explain about Transaction Cost Theory? The below model reveals market and institutions as a possible form of organisation to coordinate economic transactions. When external
Q. Describe Managerial and behavioural theories? It was only in 1960s that neo-classical theory of firm was disputed by alternatives like behavioural and managerial theories. M
The economic cost Unemployment represents a terrible waste of resources and means that the economy is producing a lower rate of output than it could do if there were full empl
According to J.B. Clark's profits arises in a dynamic economy, not in a static one. A static economy is one in which there is absolute freedom of competition population and capital
ARGUMENTS FOR MONOPOLIES Although monopolies are usually hated mainly because their practice of consumer exploitation, there are some aspects of monopolies which are favourabl
Give some examples for marginal and incremental principle
a. Explain why the demand for a particular brand is more elastic than the demand for all cigarettes. If Lucky Strike raised its price by 1% in 1918, was the price elast
gap between economic theory and business practice
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