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Explain how managerial economics is useful for decision making
Problem: Long-Run Labor Demand and Factor Substitutability Suppose there are two inputs in the production function, labor (L) and capital (K), which can be combined to produce
Suppose that the present level of income in the economy is $700 billion. It is determined that in order to decrease the unemployment rate to the desired level, it will be essential
Mrs John Robinson- 'Oligopoly is market situation in between monopoly and perfect competition in which the number of sellers is more than one but is not so large that the market pr
outline of this assignment
Explain the concept of externality in economics? Give one example of a positive and a negative externality in Australia.
Q. Show the importance of Demand forecast? Demand forecast for a particular commodity furthermore offers recommendations for demand forecast of associated industries. For exam
Q. Causes for diseconomies of scale? The most significant cause for diseconomies of scale is the diminishing returns to management. As the output grows beyond certain level the
LONG RUN EQUILIBRIUM FOR THE FIRM Since there is freedom of entry into the industry the surplus profits will attract new firms into the industry. As a result the supply of th
is Indian companies running a risk by not giving attention to cost cutting?
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