What are the responsibilities of managerial economists
What are the responsibilities of managerial economists?
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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.
Refer to figure as in above. What occurs when the firm produces more than Q4 units: w) Its profit raises. x) this makes a loss. y) Its total revenue is increasing quicker than its whole cost. z) this could make a profit or a loss depending upon what occurs
Enactment through the U.S. Congress of an extensively higher legal minimum wage would be probably to benefit: (i) American college professors. (ii) high-school dropouts in their teens. (iii) relatively unskilled foreign workers whose production is exp
Categorized the Positive income Elasticity?
Illustrates the reasons for charging skimming price strategy?
A firm’s demand for labor tends to be additional wage-elastic while: (1) the price elasticity of demand for output is greater. (2) substituting capital for labor is harder. (3) unskilled workers join unions. (4) labor costs are
Explain the welfare definition of economics? Why is it criticized?
A society’s stock of human capital would be least probable to grow as a consequence of: (w) federal subsidies for college education. (x) sustained unemployment during a recession. (y) apprenticeship programs for construction workers. (z) retrain
The most valuable human capital onto the given list would be possessed through a person who: (w) inherited a great deal of money. (x) invested large sums on the stock market. (y) had an advanced degree in music education. (z) specialized like a medica
For wage rates in between $18 and $21, there the elasticity of Morgan’s supply of labor is: (w) 0.72. (x) one. (y) 1.08. (z) 1.44. Q : Explain the cost concepts briefly Explain the cost concepts briefly.
Explain the cost concepts briefly.
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