Meaning of managerial economics
What is the meaning of managerial economics?
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Managerial economics bridges the gap between old economic theories and real business practices in two ways:
i) It provides tools and techniques to enable the manager to become more capable to take decisions in real and practical situation. ii) It serves as an integrating course to demonstrate the interaction between ranges of areas in which the firm operates.
What are the internal factors in governing prices?
What are the objectives and importance (Uses) of managerial Economics?
In what condition the concept of marginal costing basically applied?
What are the scopes of managerial economics?
Illustrates the environmental or external issues.
Labor supply curves “bend backward” within response to overwhelmingly powerful: (i) marginal effort effects. (ii) income effects. (iii) wealth effects. (iv) derived supply effects. (v) substitution effects. Q : Operational or internal issues of What are the operational or internal issues of managerial economics?
What are the operational or internal issues of managerial economics?
Explain the objectives of pricing policy and its aim.
Illustrates the factors changes in demand?
When an economic alteration makes one person better off whereas no one else is affected, then this is: (w) efficient to make the change. (x) traumatic to make the change. (y) neither good nor bad for society. (z) strictly a positive value judgment to
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