Illustrates the Forward Planning in managerial economic
Does managerial economic as a tool for Forward Planning? Explain this term briefly.
Expert
Forward Planning: Future is not specified by any one. A firm is operating within the conditions of uncertainty and risk. Risk and uncertainty both can be minimized only by making precise forward and forecast planning. Managerial economics assists manager in forward planning forward planning implies making plans for the future further. A manager has to make plan for the future for example: Expansion of existing plants and so on. The study of macro economics gives managers a clear understanding regarding environment in that the business firm is working. The knowledge of different economic theories names are demands theory and supply theory etc also can be useful for future planning of supply and demand. Therefore managerial economics enables the manager to make plan for the future.
For labor Plastibristle’s demand for labor is least wage elastic at: (i) point a. (ii) point b. (iii) point c. (iv) point d. Q : Describe the Long term Demand Describe the Long term Demand Forecasting.
Describe the Long term Demand Forecasting.
If this firm maximizes profit, this will be producing under circumstances of: (1) increasing returns to labor. (2) economies of scale. (3) diminishing returns to labor. (4) constant returns to labor. (5) adverse selection and moral hazard. Q : Marginal Factor or Resource Costs The The words “marginal factor costs” or “marginal resource costs” taken as to the: (w) extra cost involved in producing an additional resource. (x) extra cost involved while producing an additional unit of a resou
The words “marginal factor costs” or “marginal resource costs” taken as to the: (w) extra cost involved in producing an additional resource. (x) extra cost involved while producing an additional unit of a resou
Hello, Would you please find a small case study in managerial economics. please I don't want the typical solution because the prof have it. thanks
An increase within competitively-set wages tends to cause firms to adjust hence there are reductions into the: (1) amounts of labor most firms hire. (2) value of the marginal productivity of workers. (3) marginal profit from hiring labor. (4) technolo
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
What are the reasons for adopting penetration price strategy?
Differentiate between individual demand schedule and Market demand schedule in law of demand?
Illustrates the criteria for good forecasting method?
18,76,764
1944173 Asked
3,689
Active Tutors
1434037
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!