Meaning of managerial economics
What is the meaning of managerial economics?
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Managerial economics bridges the gap between old economic theories and real business practices in two ways:
i) It provides tools and techniques to enable the manager to become more capable to take decisions in real and practical situation. ii) It serves as an integrating course to demonstrate the interaction between ranges of areas in which the firm operates.
A firm’s demand for labor tends to be additional wage-elastic while: (1) the price elasticity of demand for output is greater. (2) substituting capital for labor is harder. (3) unskilled workers join unions. (4) labor costs are
Illustrates the internal economies of scale?
Illustrates the terms total cost, average cost and also marginal cost?
If workers accept lower wages in exchange for employer assurances of enhanced job security, employment agreements are illustrations of: (i) credentialism. (ii) comparable worth. (iii) specific training. (iv) an implicit labor contract. (v) human capital.
When family incomes within the United States raised sharply and therefore, sales of cashmere sweaters improved enormously, in that case cashmere sweaters are: (1) luxury goods. (2) preferred to wool or cotton sweaters. (3) inferior goods. (4) prestige goods. (5) norma
When all markets wherein a firm operates are purely competitive, in equilibrium the marginal resource cost of labor is the same to the: (w) firm’s marginal revenue. (x) marginal cost of output. (y) wage rate the firm must pay to hire more worker
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 : Explain the decision making areas of Explain the decision making areas of the decision making.
Explain the decision making areas of the decision making.
what are the criteria for good forecasting
The costs of investing within human capital are probably to be borne by the employee when human capital a worker obtains “on the job” is: (1) general. (2) marginal. (3) precise. (4) generic. (5) specific. Discover Q & A Leading Solution Library Avail More Than 1418976 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1955069 Asked 3,689 Active Tutors 1418976 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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