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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.

   Related Questions in Managerial Economics

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  • Q : Labor Supplies in Competitive Markets

    The individual firm in a purely competitive labor market: (1) faces a perfectly elastic supply of labor at the equilibrium wage. (2) faces a perfectly inelastic supply of labor at the equilibrium wage. (3) has a perfectly elastic demand for labor at t

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  • Q : Wage Rates and Marginal Resource Costs

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