Environmental or external issues of managerial economics
What are the Environmental or external issues of managerial economics?
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It refers to the general business environment in which the organisation works. A study of economic environment should include: i. The types of economic system in the country. ii. The general trend in income, prices, production, employment, savings and investments iii. Trends in the working of financial institutions for example banks, financial corporations and insurance companies. iv. Magnitude and trends in foreign trade. v. Trends in labour and capital market. vi. Government economic policies like monitory policy, price policy and fiscal policy.
If a perfectly competitive firm determines that its market price is below its minimum average variable cost, this will sell: w) the output where marginal revenue equivalents marginal cost. x) any positive output the entrepreneur decid
Screening devices used while employers try to stop adverse selection through applicants for positions do not comprise: (1) reviewing résumés to identify applicants’ qualifications. (2) needing non-compete clauses which prevent new
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Explain the target pricing briefly.
When a firm is a price taker in the sale of its product, in that case labor’s: (w) ARP (Average Revenue Product) = MRP. (x) ARP = VMP. (y) VMP > MRP. (z) VMP = MRP. Can someone explain/help me with best so
Enactment through the U.S. Congress of an extensively higher legal minimum wage would be probably to benefit: (i) American college professors. (ii) high-school dropouts in their teens. (iii) relatively unskilled foreign workers whose production is exp
What are the internal factors in governing prices?
Describe the Long term Demand Forecasting.
Firms may make use of low prices to enter a market and gain market share therefore is can learn the intricacies of a particular product line or business. It is an illustration of: (1) limit pricing. (2) accommodation. (3) learning-by-
What is the difference between economics and managerial Economic?
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