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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.
Use the data set cd costs2010 to estimate the marginal cost of one more CD. (Regress costs on the number of CDS.) Test the hypothesis that the marginal cost equals 75 cents. How wo
Perfectly Elastic Supply Supply is said to be perfectly or infinitely elastic if the price is fixed at all levels of demand. The demand curve has been shown in the above diag
The Mixed Economy There are no economies in the world which are entirely 'market' or planned, all will contain elements of both systems. The degree of mix in any one econom
Q. Describe the Public Utility Monopoly? Public Utility Monopoly: Governmental authorities seize complete management and control of some utilities to protect social interest
Can identity economics explain some patterns observed in the Australian economy
The Market Demand Curve Quantity of a commodity that an individual is willing to buy at a particular price of the commodity during a specific time period, given his money incom
State the Demand analysis Analysis of demand is assumed to forecast demand that is a basic component in managerial decision-making. Demand forecasting is of importance since
The theory of consumer's behavior seeks to explain the determination of consumer's equilibrium. Consumer's equilibrium refers to a situation when a consumer gets maximum satisfacti
calculate point elasticity of demand for demand function q=10-2p for decrease in price from rs 3 to rs 2
how does knowledge of economics help in maximizing profit in firm
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