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Managerial Economics is an integration of economic theory by business practice for the purpose of facilitating the decision-making and forward planning by managers. Describe and comment.
Could you distinguish between the Management, Economics and Managerial Economics? Explain how are these co-related?
Differentiate between the insurable and non-insurable risks.
Illustrate how an individual firm will attain the equilibrium under the monopolistic competition.
Describe the necessary condition for the price discrimination?
Write down the objectives of pricing policy?
Trace the relationship among the price and revenues under monopoly.
Describe the different types of internal economies available to the firm.
Illustrate the meaning of economies of scale?
Describe Cobb-Douglas production function and its relevant properties?
Describe the fundamental economic theories applied to the managerial decision making.
Describe the fundamental business problems in the decision making.
Write down the determinants of the Price Elasticity of Demand. Provide its different types.
Write down the fundamental concepts of managerial economics. Illustrate out the term demand forecasting? Illustrate critically the different techniques of demand forecasting.
Write down your economic cost of attending the game (once you already purchased the ticket)?
Describe the Average Variable Cost (or AVC) at a production level of 10?
Compute the total revenue and total economic profit at each level of output.
Calculate total revenue, marginal revenue, total cost and profit at each quantity. What quantity would a profit-maximizing publisher select?
Explain the characteristics or features of a natural monopoly and how a natural monopoly distinct from the other monopolies?
Find out the profit-maximizing quantity of passengers for Friday departures and Tuesday departures. Determine the profit-maximizing price for each.
The government requires a fixed tax of $20 on the profits of the firm. Would this tax influence the decisions of the firm in the short-run and long-run? Describe clearly.
Compute the Cournot-Nash equilibrium for each firm, supposing that each selects the output level which maximizes its profits when taking its rival’s output as given.
Determine the profit-maximizing price and output? Find out the total profit? Also find out the price elasticity of demand at profit maximizing output?
Find out the short-run supply curve of the firm and the market. Illustrate the price, quantity, profit or loss for each firm? Is this industry in the long-run? If not, determine the price in the lon