What are the main features of managerial economics
What are the main features of managerial economics?
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Following are the Chief Characteristics of managerial economics:
i) Managerial economics is like micro economic. As it involves studying the problems of a business firm not the whole economy. ii) Managerial economics largely uses the body of economic concepts and principles which is known as “Theory of the Firm” or “Economics of the firm”. iii) Managerial economics is pragmatic. It is purely practical oriented. Managerial economics think about the particular environment of an organisation or business for decision making. iv) Managerial economics is Normative rather than positive. v) Macro economics is also useful to managerial economics since it provides intelligent understanding of the environment in which the business is operating. vi) It is management oriented.
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.
For labor Plastibristle’s demand is most wage elastic at: (1) point a. (2) point b. (3) point c. (4) point d. Q : Fundamental goal of maximizing in firms Economists suppose that firms hire labor to further a fundamental goal of maximizing: (1) economic profit. (2) workers’ welfare. (3) economy-wide employment. (4) managerial compensation. (5) the total value of output.
Economists suppose that firms hire labor to further a fundamental goal of maximizing: (1) economic profit. (2) workers’ welfare. (3) economy-wide employment. (4) managerial compensation. (5) the total value of output.
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When labor was free, in that case this purely competitive firm as in illustrated graph would hire. (1) 600 workers. (2) 700 workers. (3) 800 workers. (4) 900 workers. (5) 1000 workers. Q : Government and Labor Assume that male Assume that male nurses are paid more than female nurses for same work. When an “equal pay for equal work” law is enforced and enacted, it may: (w) decrease the wages of male nurses. (x) not influence the wages of female nurses. (y) increa
Assume that male nurses are paid more than female nurses for same work. When an “equal pay for equal work” law is enforced and enacted, it may: (w) decrease the wages of male nurses. (x) not influence the wages of female nurses. (y) increa
I have a problem in economics on Resources. Please help me in the following question. The depletion of the fossil fuel reserves will cause the world’s production possibilities frontier to shift: (i) Outward and decrease capacity
At any price of, the demand for a resource is fewer elastic the: (w) easier this is to substitute other resources for this. (x) harder this is to substitute other resources for this. (y) more elastic the demand for the output this produces. (z) greate
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