Operational or internal issues of managerial economics
What are the operational or internal issues of managerial economics?
Expert
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.
Illustrates the criteria for good forecasting method?
When the real wage raises, in that case an additional unit of: (w) labor supplied will buy fewer goods. (x) leisure is more expensive. (y) output need more labor time. (z) capital becomes more highly utilized. Can
Illustrates the marginal cost pricing and differential pricing?
Illustrates the environmental or external issues.
Illustrates the types of revenue?
What did professor Hidbon illustrates about 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
Illustrates the causes of business cycle?
An assumption regarding purely competitive labor markets to make sure market clearing is which: (w) firms maximize profit. (x) individuals and households maximize utility. (y) wages and prices are flexible. (z) trade unions engage in collective bargai
When all labor were fundamentally very similar then, in long run equilibrium for purely competitive labor markets as: (w) money wages will be equal for all workers. (x) the net advantages of working in various occupations will be equa
18,76,764
1939830 Asked
3,689
Active Tutors
1417123
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!