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.
Illustrates the Scope of Managerial /Business Economics?
When labor was free, in that case this purely competitive firm as in illustrated graph would hire. (1) 600 workers. (2) 700 workers. (3) 800 workers. (4) 900 workers. (5) 1000 workers. Q : Smoothing techniques or Exponential Explain about the term smoothing techniques.
Explain about the term smoothing techniques.
State the assumptions of Law of Demand?
Give a brief introduction of the term Break Even Point. How does BEP aid in making business decision?
Suppose that the auto market started at the intersection of D0S0, and in that case automakers opened foreign assembly plants after discovering which competent foreign employees worked for minor wages. How would it influence the auto market?: (
States the term Shift in Demand?
Does managerial economics as a tool for decision making? Explain this term.
Help to achive the other objectives of the firm like industry leadership,expansion implementation of policies
Explain the Arc Method of Measurement of Elasticity.
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