Explain important question regarding managerial economics
Illustrates the important question regarding the managerial economics?
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The significant questions to be answered through the managerial economists consist of:
1. Is competition probably increase or decrease? 2. What are the population moves and their affect in purchasing power? 3. Will the price of raw materials raise or reduce? And many more... 4. Managerial economist can also assist the management in taking decisions about internal operation of the firm.
The individual household within a purely competitive labor market as: (w) has a perfectly elastic supply of labor at the market wage. (x) has a perfectly inelastic supply of labor at the market wage. (y) faces a perfectly elastic demand for its labor
When a firm is experiencing diminishing returns as: (w) the marginal product of labor rises as more labor is hired. (x) the marginal revenue product of labor falls as more is hired. (y) the marginal resource cost of labor will be declining. (z) this w
Illustrates the term Law of Demand? Answer: The law of Demand is termed as the “first law in market”. It shows the relation in between quantity and price
Illustrates about the Barometric techniques?
Economy-extensive efficiency needs both allocative and technical efficiency within production and: (w) equity within the distribution of national income. (x) biological efficiency, in that people's basic desires should be met. (y) pol
Explain about the term Boom in phases of business cycle.
Adam Smith’s theory of wage differentials is least consistent along with a case wherein a: (i) chef in a five-star restaurant earns a higher wage than a cook into a fast food restaurant. (ii) security guard for a U.S. firm into Baghdad is paid m
Illustrates the Objectives of managerial economics?
Define the pricing of a new product.
A cartel is: (a) an oligopoly model which relies on interdependence. (b) an organization of oligopolist firms behaving like a monopoly. (c) an organization of firms that jointly make decisions. (d) All of the above. Discover Q & A Leading Solution Library Avail More Than 1451162 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1953713 Asked 3,689 Active Tutors 1451162 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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