--%>
Assignment Help - homework help

What are the responsibilities of managerial economists

What are the responsibilities of managerial economists?

E

Expert

Verified

The duties of managerial economists are the following:

i. To bring reasonable profit to the company.
ii. To make accurate forecast.
iii. To establish and maintain contact with individual and data sources.
iv. To keep the management informed of all the possible economic trends.
v. To prepare speeches for business executives.
vi. To participate in public debates
vii. To earn full status in the business team.

   Related Questions in Managerial Economics

  • Q : Maximizes profit by hiring labor A firm

    A firm maximizes profit through hiring labor at the point where labor’s: (1) marginal physical product equals its average physical product. (2) marginal revenue product equals its marginal resource cost. (3) rate of exploitation is greatest. (4)

    		•
  • Q : Illustrates the term Demand Function

    Illustrates the term Demand Function?

    		•
  • Q : Most exceed the wages or specific

    Firms tend to offer wages which most greatly exceed the wages which workers would earn elsewhere to workers who have: (1) profit-sharing plans. (2) specific training. (3) prenuptial agreements. (4) non-compete clauses in their work contracts. (5) general training.

    		•
  • Q : Shifting of market for productivity

    When the U.S. soybean market is primarily in equilibrium on S0D0, and in that case a new fertilizer raises farm productivity and concurrently, foreigners are permitted greater access to U.S. soybean, there the market shifts to: (

    		•
  • Q : Explain the Exceptional Demand Curve

    Explain the Exceptional Demand Curve.

    		•
  • Q : Fundamental goal of maximizing in firms

    Economists suppose that firms hire labor to further a fundamental goal of maximizing: (1) economic profit. (2) workers’ welfare. (3) economy-wide employment. (4) managerial compensation. (5) the total value of output.

  • Q : Introduction of the term Break Even

    Give a brief introduction of the term Break Even Point. How does BEP aid in making business decision?

    		•
  • Q : Part of the payment in economic rent

    Economic rent shows part of the payment for the utilization of: (w) landowners’ labor and capital to keep their land. (x) landowners’ buildings and equipment. (y) resources for that supplies are less than perfectly elastic. (z) any piece o

    		•
  • Q : Economic Capital and Per Capita Income

    The Black Plague which killed millions of medieval Europeans probably mainly directly and instantly resulted in: (1) Greater trust on the mercantilist economic theory. (2) Higher standards of living for survivors. (3) More positive attitudes of early Christian theolog

    		•
  • Q : Credentialism and Occupational Licensing

    Occupational licensing often requires qualifications with small relevance for performance in a specific position before an individual can legally be hired. Artificial and inefficient barriers to the practice of specific occupations, such as dog groome

    		•