Definition of Managerial economics according to Douglas
Describes the definition of Managerial economics according to Douglas?
Expert
According to Professor Evan J Douglas, Managerial economics is relates with the application of business principles as well as methodologies to the decision making process in the firm or organization under the conditions of uncertainty. This seeks to establish rules and principles to assist the attainment of the required economic intend of management. These economic aims associates to costs, revenue and also profits and are significant within both business and/or non business institutions.
Explain about the term Boom in phases of business cycle.
Average female wages are historically beneath the average for male workers due to: (w) concentration in low income occupations. (x) placement in low status job positions. (y) lower admission in professional schools and skilled trades.
Explain about the control of business cycle.
What is social cost of production?
Explain the forecasting demand for a new product.
What are the external factors in governing prices?
States the determinants of elasticity?
The individual household within a purely competitive labor market as: (w) has a perfectly elastic supply of labor at the market wage. (x) has a perfectly inelastic supply of labor at the market wage. (y) faces a perfectly elastic demand for its labor
Our society is possibly operating inefficiently when: (w) we could grow more pecans by producing fewer walnuts. (x) asthmatics would gain when all pollution were removed. (y) whole medical costs would be lower and people would be healthier when we dev
A firm’s demand for labor tends to be additional wage-elastic while: (1) the price elasticity of demand for output is greater. (2) substituting capital for labor is harder. (3) unskilled workers join unions. (4) labor costs are
18,76,764
1956948 Asked
3,689
Active Tutors
1423083
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!