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Statistical technique used to estimate economic variable Some statistical techniques are used to estimate economic variables of interest to a manager. In a number of cases, sta
Labor demand for low-skilled workers in the United States is w= 24 -0.1E where E is the number of workers (in millions) and w is the hourly wage. There are 120 million domestic U.S
present a detailed discussion of the principles of managerial economics
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
CHARACTERISTICS OF MANAGERIAL ECONOMICS 1. Uses theory of firm: Managerial economics uses economic principles and conceptsthat are known as theory of Firm or 'Economics of the
Discuss the full cost pricing and marginal cost pricing method. Explain how the two methods differ from each other.
Q. Illustrate the sources of monopoly? Merger for Large-scale Production: Thirdly monopoly undertaking can be a consequence of the necessity to produce on a large scale to de
Decrease in Demand At the initial equilibrium price P 1 , quantity demanded falls from q 1 to q d . But the quantity supplied is still q 1 at this price. Hence, this
Enumerate the Scope of managerial economics The scope of managerial economics contains following subjects: 1. The Theory of demand 2. The Theory of production 3. The
Demerits of direct taxes a. Heavy direct taxation, especially when closely linked to current earnings, can act as a serious check to productivity by encouraging absenteeism
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