Functions and responsibilities of managerial economist
States the functions and responsibilities of managerial economist?
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A managerial economist can play a significant role by assisting the management to respond the difficult problems of forward planning and decision making. Managerial economists should study external and internal factors affecting the business during taking the decisions.
What are the objectives and importance (Uses) of managerial Economics?
Give a brief introduction of the term P/V ratio and Contribution?
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
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By lying off three workers, total costs of a firm fall by $210 per day, indicating that the marginal: (w) revenue product of labor is $210. (x) revenue product of labor is $70. (y) resource cost of labor is $210. (z) resource cost of labor is $70.
If a perfectly competitive firm determines that its market price is below its minimum average variable cost, this will sell: w) the output where marginal revenue equivalents marginal cost. x) any positive output the entrepreneur decid
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