Operational or internal issues of managerial economics
What are the operational or internal issues of managerial economics?
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The following aspects may said to be fall under internal issues:
i. Demand analysis and Forecasting: The demands for the firm’s product would change in with the change in price, consumer’s income, his taste etc. which are the determinants of demand. ii. Cost analysis: Assessment of cost is an essential part of managerial problems. iii. Pricing Decisions: The firms try to earn profit which depends upon correctness of pricing decisions. iv. Profit Analysis: All business organisations which are working for profit, it is considered an important measure of success. v. Capital budgeting: The manager has to estimate correctly profitability of an investment and to properly allocate the capital. vi. Production and supply analysis: Production analysis is proceeds in physical terms while cost analysis proceeds in monitory term.
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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. Discover Q & A Leading Solution Library Avail More Than 1423301 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1925077 Asked 3,689 Active Tutors 1423301 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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