Question 1: Describe the importance of managerial economics in latest business environment.
Question 2: What do you mean by elasticity of demand? Describe its types.
Question 3: In brief describe the law of variable proportions.
Question 4: Describe the behavioral theory of the firm.
Question 5: Describe the Traditional methods of capital budgeting.
Question 6: Describe the process of price determination under monopoly.
Question 7: Define the terms given below:
a) Demand function
b) Scope of managerial economics
c) Opportunity cost
d) Pricing tactics
e) Profit maximization
f) Risk and uncertainty.