Environmental or external issues of managerial economics
What are the Environmental or external issues of managerial economics?
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It refers to the general business environment in which the organisation works. A study of economic environment should include: i. The types of economic system in the country. ii. The general trend in income, prices, production, employment, savings and investments iii. Trends in the working of financial institutions for example banks, financial corporations and insurance companies. iv. Magnitude and trends in foreign trade. v. Trends in labour and capital market. vi. Government economic policies like monitory policy, price policy and fiscal policy.
Illustrates the Importance of managerial economics?
How is the Demand forecasting important?
Does managerial economics as a tool for decision making? Explain this term.
Illustrates the responsibilities of managerial economists?
States the implicit cost concept briefly.
Illustrates the demand schedules important for law of demand? Answer: The perception of law of demand may be explained along with the demand schedules are as follow:
For a profit maximizing competitive firm operating within a competitive labor market, therefore the: (w) marginal resource cost of labor is the same to the wage rate. (x) supply of labor is perfectly inelastic. (y) production quota is
The costs of investing in human capital are probably to be borne through an employer when the human capital is: (1) general. (2) marginal. (3) precise. (4) generic. (5) specific. Can someone explain/help me with be
Explain the Arc Method of Measurement of Elasticity.
The market supply of labor is the sum of the: (1) quantities of labor supplied by households at each wage. (2) wages paid to households for each quantity supplied. (3) quantities demanded by firms at each wage. (4) marginal products of labor at each l
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