Evan J Douglass definition of Managerial economics
What is the Evan J Douglas’s definition of Managerial economics?
Expert
Prof. Evan J Douglas said that managerial economics deals with the application of business principles and methodologies to decision making process in the firm or organization under the situations of uncertainty. It seeks to create rules and principles to facilitate the accomplishment of the desired economic aim of management. These economic goals relate to costs, revenue and profits and are vital within both business and non business institutions.
What are the Functions and Responsibilities of managerial economist?
Illustrates the significance of elasticity?
Profit-maximizing firms which operate in competitive resource and output markets adjust labor inputs till the wage rate equals the: (1) average revenue from output. (2) output price equals average variable cost. (3) marginal utility o
State the assumptions of Law of Demand?
How is the Demand forecasting important?
States the determinants of elasticity?
Illustrates the Objectives of managerial economics?
What is Oligopoly? Explain in brief.
Firms adjust their inputs of labor or other resources till: (w) revenue is maximized. (x) employment is maximized. (y) marginal product of labor is maximized. (z) profit is maximized. Please choose the right answer
Describe the Long term Demand Forecasting.
18,76,764
1945711 Asked
3,689
Active Tutors
1418055
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!