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search theory and unemployment you must understand the search and matching theories of unemployment in the context of other theories of
costs of unemploment and inflation in an economy both unemployment and inflation have adverse effects
phillips curve the phillips curve named after a w phillips describes the relationship between unemployment
types of unemployment a person can be either in the labour force or not in the labour force of
1a sporting goods company has hired a management consulting firm to analyze demand in 20 regional markets for one of its major products a treadmill
gross domestic producta measure of national economic activity gdp is measured from two approaches gdp can be viewed as the total value of all goods
income elasticitythe functional relationship among the changes in the quantity demanded for a good or service and the change in income of those
leading economic indicatorsthe 11 key economic indicators that have been establish to lead business cycle turning points of the 11 four are basically
marginal revenuemarginal revenue is the additional revenue an organization receives resulting from the sale of one more item of output marginal
opportunity costthis is the amount that is sacrificed when choosing one activity over the next-best alternative in organization an example of
organization for economic development oecd an international organization found in paris france in 1961 to act as a worldwide forum to stimulate world
a firm with market power has estimated the following demand function for its product q 12000 4000 p where p price per unit and q quantity
on the application of any of the concepts learnt in managerial economics you may try to use these concepts to everyday problems in life or in
what is producer surplus the more the competition among the sellers the less the producer surplus enjoyed by the producers do you agree with the
you have opened your own word processing service you have already bought a special computer needed for word processing and paid 5000 for it
real gdp is increasingly criticized for its alleged failure to adequately measure the standard of living to what extent do you think this criticism
plot the demand schedule and draw the demand curve for the data given for marijuana in the
frank h knight treated profit as a residual return to uncertainly profit obviously knight made a distinction between risk and uncertainly he divided
according to jb clarks profits arises in a dynamic economy not in a static one a static economy is one in which there is absolute freedom of
profit as rent of ability one of the most widely known theories of profit was propounded by fa walker according to him profit is the rent of is the
the gap between theory and practise and the role of managerial economics we have noted above that application of theories to the process of business
economics has two major branches 1 micro economics and 2 both micro and macro economics theories the parts of micro and macro economics that
economics contributes a great deal with towards the performance of managerial duties and responsibilities just as biology donates to the medical
airbusboeingdemandp 182.868 - 0.0003qp 198.6592 - 0.00013qtvc curvetvc 104.8822q - 0.001q2 0.09q3tvc 25.8678q - 0.00023q2 0.4q3 in
the optimum output and price level is always determined with the concepts of revenue and costs-the difference in joint or independent production will