Evan J Douglass definition of Managerial economics
What is the Evan J Douglas’s definition of Managerial economics?
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Prof. Evan J Douglas said that managerial economics deals with the application of business principles and methodologies to decision making process in the firm or organization under the situations of uncertainty. It seeks to create rules and principles to facilitate the accomplishment of the desired economic aim of management. These economic goals relate to costs, revenue and profits and are vital within both business and non business institutions.
Substituting sophisticated machinery for human labor is termed as: (1) automation. (2) industrial sabotage. (3) kinetic engineering. (4) outsourcing. (5) robotics. Hello guys I want your advice. Please recommend some views for abov
what are the criteria for good forecasting
Firms tend to offer wages which most greatly exceed the wages which workers would earn elsewhere to workers who have: (1) profit-sharing plans. (2) specific training. (3) prenuptial agreements. (4) non-compete clauses in their work contracts. (5) general training.
Illustrates the significance of elasticity?
When the relative price of a resource decreases, we would usually expect a firm to employ less units of: (w) that resource due to the substitution effect. (x) that resource because of the output effect. (y) complementary resources due to the substitut
Describe about the term Boom in phases of business cycle.
Critics of the wide use of screening and signaling within hiring practices argue which: (w) formal training is never very important in preparing workers with necessary skills. (x) worker credentials tend to be negatively related to productivity. (y) l
What is Increasing Returns to scale?
CD sales have fallen from 2000, although sales of DVDs have increased, suggesting such that: (w) supply of prerecorded music should have fallen. (x) law of demand does not apply to the music market. (y) demands of many consumers adjusted to new technology. (z) music i
The supply of certain types of labor is determined through the: (w) skills of potential workers. (x) the availability of other workers. (y) the prices of output. (z) production technology. I need a good answer on the topic of
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