--%>
Assignment Help - homework help

Illustrates the Objectives of managerial economics

Illustrates the Objectives of managerial economics?

E

Expert

Verified

Objectives: The fundamental objective of managerial economics is only to analyze the economic problems faced with the business. Several objectives are given here:

1. To integrate economic theory along with business practice.
2. To solve business problems, apply economic principles and concepts.
3. To assign the scares resources within the optimal way.
4. To create all-round development of a firm.
5. To reduce uncertainty and risk
6. To assists in demand and sales forecasting.
7. To assist in profit maximization.
8. To assist to get the other objectives of the firm as expansion implementation of policies and industry leadership etc..

   Related Questions in Managerial Economics

  • Q : Values of marginal products of the

    Competitive product as well as resource markets yields resource prices and incomes to resource owners that are proportional to the: (1) relative prices of the goods produced. (2) values of marginal products of the resources. (3) distr

    		•
  • Q : Unexpected increases in national income

    A firm is probably to reduce the number of workers this employs when there are: (i) reductions in the wage rate. (ii) increases in the price of the output. (iii) accumulations of specific training from workers. (iv) technological advances which encourage automation. (

    		•
  • Q : Costs and revenue verses Quality

    Refer to figure as in above. What occurs when the firm produces more than Q4 units: w) Its profit raises. x) this makes a loss. y) Its total revenue is increasing quicker than its whole cost. z) this could make a profit or a loss depending upon what occurs

    		•
  • Q : Explain the Arc Method of Measurement

    Explain the Arc Method of Measurement of Elasticity.

    		•
  • Q : Managerial Economics according to

    Illustrates the managerial Economics according to Savage and John?

    		•
  • Q : Value of the marginal product The value

    The value of the marginal product is: (w) MPP × MR. (x) MPP × P. (y) MPP × MC. (z) MPP × MRC. Can anybody suggest me the proper explanation for given problem regarding Economics

  • Q : LEAST probable backward bending supply

    The supply curve of labor is LEAST probable to be “backward bending” for: (1) an individual worker. (2) the economy as a whole. (3) highly specialized industries which are main employers of dedicated PhDs hired only after

    		•
  • Q : Describe the term trend projection

    Describe the term trend projection.

    		•
  • Q : Making a decision regarding resource

    To make a decision regarding resource hire, the firm should take as: (w) the price of the resource. (x) the productivity (Marginal Price) of the resource. (y) output prices. (z) All of the above. How can I solve my Economic

    		•
  • Q : Define the difference between

    Define the difference between accounting and economic cost.

    		•