Advantages and Disadvantage of Naïve Method
What are the advantages and disadvantage of naive method?
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Advantages of Naïve Method:
a) This is easy method.
b) This is less expensive
c) This is appropriate small firms
Disadvantage of Naïve Method:
a) This is not a scientific method. And
b) This is not all the time reliable.
Explain the Exceptional Demand Curve.
A firm which is a price taker in the labor market will hire labor to the point where the wage rate is equals labor’s: (w) average output. (x) marginal revenue product. (y) average revenue product. (z) marginal physical product.<
For labor Plastibristle’s demand for labor is least wage elastic at: (i) point a. (ii) point b. (iii) point c. (iv) point d. Q : Define the Econometric Methods Define Define the Econometric Methods.
Define the Econometric Methods.
Within a purely competitive labor market, there the firm: (w) sets the wage that the household should accept. (x) should accept the wage demanded by the household. (y) and household arrive at the wage by bargaining. (z) and household should take the e
Where managerial economics treat as a tool? Answer: Managerial economics is like a tool for decision making and forward planning.
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Explain the Simultaneous equation method of Demand Forecasting.
Illustrates the important question regarding the managerial economics?
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