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.
A currently-laid-off worker is probably to find another job quickly when the worker has substantial amounts of: (i) unemployment compensation and a strong union. (ii) specific human capital gained at the previous job. (iii) screening,
Illustrates the different kinds of Demand?
Throughout the past 50 years in the United States, there the average gains in lifetime income related along with having a college degree in addition to a high school diploma have: (1) declined since the larger proportion of the population that is college educated has
A purely competitive firm which hires more workers while the value of the marginal product of labor increases above the competitively set wage rate will absolutely experience increases in its: (i) overhead costs. (ii) profit per unit.
Why is wealth definition of economics criticized?
Illustrates the managerial Economics according to Spencer and Siegleman?
Explain the Expenditure Method of Measurement of Elasticity.
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 : Concept of marginal costing In what In what condition the concept of marginal costing basically applied?
In what condition the concept of marginal costing basically applied?
Describe the term trend projection.
18,76,764
1924433 Asked
3,689
Active Tutors
1417736
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!