Operational or internal issues of managerial economics
What are the operational or internal issues of managerial economics?
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The following aspects may said to be fall under internal issues:
i. Demand analysis and Forecasting: The demands for the firm’s product would change in with the change in price, consumer’s income, his taste etc. which are the determinants of demand. ii. Cost analysis: Assessment of cost is an essential part of managerial problems. iii. Pricing Decisions: The firms try to earn profit which depends upon correctness of pricing decisions. iv. Profit Analysis: All business organisations which are working for profit, it is considered an important measure of success. v. Capital budgeting: The manager has to estimate correctly profitability of an investment and to properly allocate the capital. vi. Production and supply analysis: Production analysis is proceeds in physical terms while cost analysis proceeds in monitory term.
Explain the chief characteristics of managerial or business economics.
A profit-maximizing competitive firm hiring by a competitive labor market will be within equilibrium where is: (w) MPP = MRC. (x) w = MRC. (y) VMP = MPP. (z) VMP = w. Hey friends please give your o
A change in derived demand has most clearly occurred when: (1) poker playing increases in popularity since the World Series of Poker is televised. (2) housing sales decline during recessions. (3) ski sales increase when the snow begins to fall in Octo
Illustrates the pricing policy and practices?
Illustrates the ways in managerial economics bridges between real business practices and traditional economic theory?
States the implicit cost concept briefly.
One purpose that firms hire labor at the point where w is equal to P x MPPL is: (1) if w < P x MPPL, the cost (w) of hiring additional workers exceeds the gains (P x MPPL) of hiring them, therefore they would hire fewer workers. (2) when w > P x
States the functions and responsibilities of managerial economist?
A society’s stock of human capital would be least probable to grow as a consequence of: (w) federal subsidies for college education. (x) sustained unemployment during a recession. (y) apprenticeship programs for construction workers. (z) retrain
The income effect of a small varies in the wage rate dominates the substitution effect for this worker at point: (w) point a. (x) point b. (y) point c. (z) point d. Discover Q & A Leading Solution Library Avail More Than 1460951 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1932849 Asked 3,689 Active Tutors 1460951 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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