Explain Economics verse Managerial economics
Explain Economics verse Managerial economics.
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Difference between Economics and Managerial Economics:
Economics:
1. Dealing micro and macro both aspect2. Positive and normative both science.3. Deals along with theoretical aspects 4. Study the firm and individual both. 5. Extensive scope
Managerial Economics:
1. Dealing simply micro aspects 2. Simply a normative science. 3. Deals along with practical aspects. 4. Study the problems of firm just. And 5. Narrow scope.
Illustrates the criteria for good forecasting method?
What is pricing strategies?
Explain the Expenditure Method of Measurement of Elasticity.
what are the criteria for good forecasting
Explain about the term Recovery in phases of business cycle.
As a firm is a pure competitor in both the labor market and during the sale of its product, this will hire labor where: (w) profit is maximized. (x) marginal revenue product = marginal resource cost. (y) wage = value of the marginal product. (z) All o
How many types are of price elasticity of demand?
Explain the term average fixed cost.
Explain the Exceptional Demand Curve.
Illustrates the merits of scarcity definition?
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