Illustrates the Forward Planning in managerial economic
Does managerial economic as a tool for Forward Planning? Explain this term briefly.
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Forward Planning: Future is not specified by any one. A firm is operating within the conditions of uncertainty and risk. Risk and uncertainty both can be minimized only by making precise forward and forecast planning. Managerial economics assists manager in forward planning forward planning implies making plans for the future further. A manager has to make plan for the future for example: Expansion of existing plants and so on. The study of macro economics gives managers a clear understanding regarding environment in that the business firm is working. The knowledge of different economic theories names are demands theory and supply theory etc also can be useful for future planning of supply and demand. Therefore managerial economics enables the manager to make plan for the future.
Completing your degree is probably to be a significant signal which will help you secure a well-paid job along with a bright future if potential employer: (1) want to ensure that job applicants have already obtained important amounts of specific human capital. (2) use
When a firm hires an additional worker who adds $100 worth of output daily, and adds $50 daily to the firm’s costs, in that case the firm must: (w) hire more labor. (x) hire less labor. (y) not change its employment of labor. (z) sell off some o
The elasticity of demand for labor is directly associated to: (w) labor’s share of total costs. (x) the elasticity of demand for output. (y) the ease of substitution between labor and other resources. (z) All of the above. Q : Definition of Managerial economics Describes the definition of Managerial economics according to Douglas?
Describes the definition of Managerial economics according to Douglas?
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 : Illustrates the meaning of Demand Illustrates the meaning of Demand?
Illustrates the meaning of Demand?
For a firm hiring through a purely competitive labor market, in that case the supply of labor is: (w) greater than the MRC. (x) less than the MRC. (y) the same as the MRC. (z) vertical to parallel the wage rate. Q : Screening job hiring decisions The The concept that employers artificially utilize formal training and education while screening job applicants to make hiring decisions is termed as: (w) nepotism. (x) formalism. (y) human capital discrimination. (z) credentialism. Q : Explain the aspects of operational or Explain the aspects of operational or internal issues.
The concept that employers artificially utilize formal training and education while screening job applicants to make hiring decisions is termed as: (w) nepotism. (x) formalism. (y) human capital discrimination. (z) credentialism. Q : Explain the aspects of operational or Explain the aspects of operational or internal issues.
Explain the aspects of operational or internal issues.
When a cartel member can persuade competitors to keep the cartel price but secretly give a discount price to certain customers, profits will rise: (w) for all members of the cartel. (x) since price cuts are only given to assigned customers. (y) as a result of an incre
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