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.
States the Welfare Definition in economics?
Illustrates the techniques of economic forecasting in briefly?
Automation is the process of: (1) adapting equipment which is safer for workers to operate. (2) kinetic engineering which smoothes flows of work on an assembly line. (3) scientific management of robotic factories. (4) substituting sophisticated machin
What are the important areas of decision-making?
Increasing the wage from $9 to $15 will cause Plastibristle’s total hourly wage payments to: (w) rise by about $900. (x) rise by about $1500. (y) fall by about $900. (z) fall by about $1500. <
Gilligan is hiring new workers to help run his Island Getaway resort. Gilligan makes a decision that he will not hire a new worker unless they have been properly trained and certified into wilderness survival and have a license by the government to operate watercraft.
Nick responds “help wanted” that ads by making phone calls and scheduling interviews. If a prospective employer asks for a resume and queries Nick regarding his references and skills, in that case the firms are practicing an illustration of: (i) signaling.
Relative to evenly strong, smart, and hard-working people along with less education, and the high school graduates who invest most heavily within more advanced formal education are probable to experience lower average: (w) wages when first entering th
A principal who checks the qualifications of a potential agent before giving the agent a contract is engaging within the process of: (i) signaling. (ii) determining an efficiency wage. (iii) predatory behavior. (iv) screening. (v) discrimination. Q : Wage rate at demand of labor When the When the wage rate price of $13, in that case this firm would hire slightly fewer than: (i) 600 workers. (ii) 700 workers. (iii) 800 workers. (iv) 900 workers (v) 1000 workers. Discover Q & A Leading Solution Library Avail More Than 1429667 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1923310 Asked 3,689 Active Tutors 1429667 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
When the wage rate price of $13, in that case this firm would hire slightly fewer than: (i) 600 workers. (ii) 700 workers. (iii) 800 workers. (iv) 900 workers (v) 1000 workers. Discover Q & A Leading Solution Library Avail More Than 1429667 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1923310 Asked 3,689 Active Tutors 1429667 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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