Illustrates the Objectives of managerial economics
Illustrates the Objectives of managerial economics?
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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 risk6. 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..
Wages tend to increase while labor demand: (w) and supply both decrease. (x) decreases and supply increases. (y) and supply both raise. (z) increases and supply decreases. Please choose the right answer from above.
Refer to figure as sketched below. Why is the total revenue curve a ray from the origin: w) since revenue increases at an increasing rate. x) since revenue increases at a decreasing rate. y) since the firm can sell its product at a constant price. z) since the firm sh
Explain the meaning of Elasticity?
When the ratio of the price elasticity of demand of a taxed good associate to its price elasticity of supply increases, tax is: (w) revenue will fall when tax rates are raised. (x) hikes will cause buyer's total outla
Explain the term Production function.
Where managerial economics treat as a tool? Answer: Managerial economics is like a tool for decision making and forward planning.
Illustrates the different between expert opinion method and trend projection method?
When a firm is a price taker into the labor market and the wage is $80 daily, the marginal resource cost incurred while hiring 20 more workers daily is: (w) $80. (x) $1600. (y) $800. (z) $400. Q : Average rate of return in Human Capital This illustrated graph indicates that, there on average, rate of return to education is greatest for finishing the previous year of: (1) kindergarten, at point a. (2) grade school, at point b. (3) high school, at point c. (4) undergraduate college, at
This illustrated graph indicates that, there on average, rate of return to education is greatest for finishing the previous year of: (1) kindergarten, at point a. (2) grade school, at point b. (3) high school, at point c. (4) undergraduate college, at
Illustrates the term Demand Function?
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