Definition of Managerial economics according to Douglas
Describes the definition of Managerial economics according to Douglas?
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According to Professor Evan J Douglas, Managerial economics is relates with the application of business principles as well as methodologies to the decision making process in the firm or organization under the conditions of uncertainty. This seeks to establish rules and principles to assist the attainment of the required economic intend of management. These economic aims associates to costs, revenue and also profits and are significant within both business and/or non business institutions.
Where managerial economics treat as a tool? Answer: Managerial economics is like a tool for decision making and forward planning.
Does managerial economics as a tool for decision making? Explain this term.
Explain the meaning of total, average, marginal and incremental revenue.
In the United States throughout the past 70 years or therefore, the: (1) amount of human capital per worker has fallen. (2) labor force participation rate of women has risen. (3) supply of labor has consistently grown faster than the demand. (4) real rates of return f
General training occurs while a: (w) secretary learns a new office procedure. (x) handyman learns to drive a semi-truck. (y) messenger learns the company’s in-house mail route. (z) navy recruit learns how to repair a guided missile.
For wage rates in between $18 and $21, there the elasticity of Morgan’s supply of labor is: (w) 0.72. (x) one. (y) 1.08. (z) 1.44. Q : Explain the follow-up pricing Explain Explain the follow-up pricing.
Explain the follow-up pricing.
Illustrates the types of revenue?
If all else regarding two occupations are relatively equal, then wages tend to be lower for jobs which: (1) require important education and training. (2) expose the worker to bad weather. (3) require extended periods away from home. (4) pose health and safety hazards
While an economic change creates one person worse off without influencing anyone else, this is: (w) good for society. (x) an inefficient change. (y) neither bad nor good for society. (z) strictly a macroeconomic issue. Discover Q & A Leading Solution Library Avail More Than 1436580 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1931132 Asked 3,689 Active Tutors 1436580 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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