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What is Normative economics
It is concerned with varied corrective measures that a management undertakes under lots of circumstances. It deals with goal determination, goal development and achievement of these goals. Future planning, policy-making, decision-making and optimal utilisation of available resources, come under the banner of managerial economics.
Economics contributes a great deal with towards the performance of managerial duties and responsibilities. Just as biology donates to the medical profession and physics of engineer
WASTE IN IMPERFECT COMPETITION Monopolistic competition involves some degree of waste in two aspects. When new firms enter the industry and the demand for the individual fi
Determinants of the money supply Two extreme situations are imaginable. In the first situation, the money supply can be determined at exactly the amount decided on by the Cen
arguments in favour of traditional theory of profit maximization
what is equi marginal concepts?
Q. Relation between average cost and marginal cost? Relationship between MC and AC are the following: If MC is below AC then AC should be falling. This is because, if MC
distinguish between industry demand and firm company demand
In the national income analysis, investment refers to the value of than part of the aggregate output for any given time period which takes the form of construction of new structure
a) A change in demand means that: b) On the production-possibilities drawing, unemployment is represented by:
Use a computer regression package, to work these two computer exercises. 2. Ozark Bottled Water Products, Inc. hired a marketing consulting firm to perform a test marketing of its
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