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Explain the Decision-making theory
Decision-making theory and game theory that recognise the conditions of imperfect knowledge and uncertainty under which business managers operate have contributed to systematic methods of assessing investment opportunities. Almost any business decision can be analysed with managerial economics techniques
explain perspective of managerial economics
The Multiplier In his theory Keynes asserted that consumption is a function of income, and so it follows that a change in investment, which we may call ΔI, meaning an incremen
what is cardinal and ordinal utility?.
Objectives of IMF To achieve these objectives, the following conditions would have to be fulfilled: - i. Countries should not impose restrictions in their trade
how manager can apply scarcity and oppotunity cost in managerial decision making
In Home and Foreign there are 2 factors of production, land & labor, used to produce only one good. The land supply in every country and the technology of production are exactly th
Factors influencing Supply Curve State of technology There is a direct relationship between supply and technology. Improved technology results in more supply as with
Functions or Purposes of Taxation The functions of taxation can be discussed from the activities of the government it is meant to achieve. These are: a. Raise reven
Explain the theory of production, Managerial Economics Explain the Theory of Production
Jane, the manager of a company manufacturing air-conditioning units can choose between two production technologies for a new product line. If she chooses and installs technology 1,
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