types of pricing, Managerial Economics

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Illustrate the concept of present value. The Concept of Present Value: While someone borrows money for a year, there the interest rate is the price, computed as a percent

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Q. Availability of Substitutes - Determinants of Demand? One of the most important determinants of elasticity of demand for a commodity is availability of its substitutes. Clos

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Marginal Revenue (MR) This is the increase in Total Revenue resulting from the sale of an extra unit of output.  Thus, if TR n-1 is Total Revenue from the sale of (n-1) units

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Using the National Output for Calculating National Income A final method which is more direct is the "output method" or the value added approach .  This involves adding up

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