--%>
Assignment Help - homework help

Illustrates the Importance of managerial economics

Illustrates the Importance of managerial economics?

E

Expert

Verified

Importance: To solve the problems of decision making, all data are to be gathers and analyzed within the light of business objectives. Managerial economics gives help in such area. The significance of managerial economics maybe relies within the given points:

1. This gives tool and techniques for managerial decision making.
2. This provides answers to the fundamental problems of business management.
3. This gives data for forecasting and analysis.
4. This provides tools for demand forecasting and profit planning.
5. This directs the managerial economist.
6. This assists in formulating business policies.
7. This helps the management to identify internal and external factors affects the business.

   Related Questions in Managerial Economics

  • Q : Find demand when Supply and Demand

    Suppose that the auto started began at the intersection of S0 and D0, and then Congress passed a main personal income tax cut. So, how will it affect the auto market?: (w) No change. (x) Demand shifts to D2. (y) Demand shifts to D

    		•
  • Q : Differences between Sunk Cost and

    Illustrates the differences between Sunk Cost and Incremental cost?

    		•
  • Q : Explain the term relatively inelastic

    Explain the term relatively inelastic demand.

    		•
  • Q : Trent projection statistical method of

    Explain the Trent projection statistical method of Demand Forecasting.

    		•
  • Q : Labor Force Participation In the United

    In the United States throughout the past 70 years or therefore, the: (1) amount of human capital per worker has fallen. (2) labor force participation rate of women has risen. (3) supply of labor has consistently grown faster than the demand. (4) real rates of return f

    		•
  • Q : Equilibrium prices and quantities

    French toast and pancakes and both are close substitutes. Assume that good weather yields a bumper crop of pancakes and decreases the price of pancakes. Into the market for French toast: (1) equilibrium price and quantity both increase.(2) competition increases the su

    		•
  • Q : Wage rate paid for raises labor When

    When the wage rate paid for labor raises, in that case the: (1) supply of labor increases (2) opportunity cost of leisure rises. (3) workers always supply more labor. (4) level of national income increases. (5) opportunity cost of leisure falls.

    		•
  • Q : Capital and Wage Differentials Relative

    Relative to evenly strong, smart, and hard-working people along with less education, and the high school graduates who invest most heavily within more advanced formal education are probable to experience lower average: (w) wages when first entering th

    		•
  • Q : Technology advances in Economic Growth

    Can someone help me in finding out the right answer from the given options. The production possibilities frontier enlarges if: (i) The economy approaches full and proficient employment. (ii) Technology progress. (iii) Society's net demand for output i

    		•
  • Q : Illustrates marginal cost pricing and

    Illustrates the marginal cost pricing and differential pricing?

    		•