--%>

Functions and responsibilities of managerial economist

States the functions and responsibilities of managerial economist?

E

Expert

Verified

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.

   Related Questions in Managerial Economics

  • Q : Illustrates the different kinds of

    Illustrates the different kinds of Demand?

  • Q : Illustrates the conditions of price

    Illustrates the conditions of price discrimination?

  • Q : Substantial general training to certain

    When a firm gives substantial general training to specific workers: (i) it is probable to pay them a premium wage to cut labor turnover. (ii) the workers are likely to receive less pay than their VMPs after such training. (iii) the workers are most pr

  • Q : Supply of labor in a perfectly

    The supply of labor within a perfectly competitive market is: (w) an upward sloping curve. (x) a horizontal line. (y) above the MRC. (z) below the MRC. Hello guys I want your advice. Please recommend some views for

  • Q : Relation between Average Revenue

    Illustrates the relation between Average Revenue, Total Revenue and Marginal Revenue?

  • Q : Formulate the Cross Elasticity of demand

    Formulate the Cross Elasticity of demand?

  • Q : Determine marginal resource cost of

    If hiring hundred extra workers increases the firms total cost through $10,000, and each extra worker increases output from 50 units, in that case on the average: (w) profit will fall by $10,000. (x) the value of the marginal product of labor is $10,0

  • Q : Substitution effect of wage rate The

    The substitution effect of a small change within the wage rate dominates the income effect for that worker at each wage rate: (w) exceeding $5 per hour. (x) between $5 per hour and $24.99 per hour. (y) exceeding $25.01 per hour. (z) b

  • Q : Supply of Labor to Competitive Firms

    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 : Explain opinion of Stonier and Hague

    Illustrates the opinion of Stonier and Hague for explaining Demand in economics?