Explain elements of managerial economics for decision making
Illustrates the elements of managerial economics as a tool for decision making?
Expert
This process involves the elements that are as follows:
1. The identification of the objectives of firm. 2. The statement of the problem to be respond. 3. The listing of different alternatives. 4. Analysis and Evaluation of alternatives. 5. The selection suitable alternative 6. The monitoring and implementation of the alternative that is chosen.
Explain the follow-up pricing.
Describe briefly Cost Volume-Profit relationship?
For a firm hiring through a purely competitive labor market, in that case the supply of labor is: (w) greater than the MRC. (x) less than the MRC. (y) the same as the MRC. (z) vertical to parallel the wage rate. Q : Forecasting demand what are the what are the criteria for good forecasting
what are the criteria for good forecasting
Explain the term business cycle in brief.
Explain the cost function in briefly.
A decline within consumer demand for a good tends to reduce demands for: (w) inferior goods. (x) alternative products. (y) resources producing the good. (z) union wage increases. Hey friends please give your opinio
Illustrates the Expert Opinion method of Demand Forecasting?
Does managerial economic as a tool for Forward Planning? Explain this term briefly.
Competitive product as well as resource markets yields resource prices and incomes to resource owners that are proportional to the: (1) relative prices of the goods produced. (2) values of marginal products of the resources. (3) distr
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