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Managerial Economics

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  2. Managerial Economics

Advertising

  • Post author:[email protected]
  • Post published:26/09/2021
  • Post category:Managerial Economics
  • Post comments:0 Comments

What is Advertising? Definition of Advertising: - Advertising is an effective marketing tool used to promote and sell or services. Advertising is a means of communication with the users of a…

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Market Demand: Determinants of Market Demand, The Market Demand Equation

  • Post author:[email protected]
  • Post published:20/09/2021
  • Post category:Managerial Economics
  • Post comments:0 Comments

What is Market Demand? Meaning of Market Demand: - Market Demand refers to the aggregate of all individual demand for the commodity demanded by all the potential consumers in the market…

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Opportunity Cost and Other Concepts of Costs

  • Post author:[email protected]
  • Post published:15/09/2021
  • Post category:Managerial Economics
  • Post comments:0 Comments

An important part of being a rational decision maker is considering opportunity costs. Opportunity cost is the forgone benefit that would have been derived by an option not chosen. In…

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Profit Maximization

  • Post author:[email protected]
  • Post published:20/08/2021
  • Post category:Managerial Economics
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What is Profit Maximization? Meaning of Profit Maximization: - Profit maximization is the ability of a business or company to earn maximum profit with low cost which is considered as…

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Marginal Revenue and Price Elasticity

  • Post author:[email protected]
  • Post published:10/08/2021
  • Post category:Managerial Economics
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The concept of marginal revenue is closely related to the price elasticity of demand. The word 'margin' always refers to something extra. Therefore, marginal revenue is achieved by selling an…

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Oligopoly: Price Rigidity and Price Leadership

  • Post author:[email protected]
  • Post published:28/07/2021
  • Post category:Managerial Economics
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Origin of Oligopoly The word oligopoly is derived from two Greek words – 'Oligi' meaning 'few' and 'Polein' meaning 'selling'. When there is limited market, in which a market is…

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The Cost of Long-Term Assets

  • Post author:[email protected]
  • Post published:28/07/2021
  • Post category:Managerial Economics
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What are long-term assets? Meaning of Long-term assets: - Long-term assets are also known as non-current assets or long-lived assets, that are expected to provide economic benefits over a future…

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Price Elasticity of Demand

  • Post author:[email protected]
  • Post published:06/07/2021
  • Post category:Managerial Economics
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What is price elasticity of demand? Meaning of Price Elasticity of Demand: - The price elasticity of demand is a measure of how a product's usage changes in response to…

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Individual Demand

  • Post author:[email protected]
  • Post published:15/06/2021
  • Post category:Managerial Economics
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What is Individual Demand? Meaning of Individual Demand: - Individual demand refers to a person's desire for a product or service (or a household). Individual demand is the result of…

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The Production Function

  • Post author:[email protected]
  • Post published:03/06/2021
  • Post category:Managerial Economics
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What is Production Function? Meaning of Production Function: - Production function is the equation that expresses the relationship between the quantities of productive factors (such as labour and capital) used…

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Economics and Decision Making

  • Post author:[email protected]
  • Post published:21/05/2021
  • Post category:Managerial Economics
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What do you mean by decision making? Meaning of Decision making: - Decision making is the main objective of Managerial Economics. Decision making may be defined as the process of selecting the suitable action from among…

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Principal-Agent Problem

  • Post author:[email protected]
  • Post published:04/05/2021
  • Post category:Managerial Economics
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What is principal-agent problem? Meaning of principal-agent problem: - The principal-agent problem is a conflict in priorities between an individual or group and the representative authorized to represent them and act…

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Profit in a Market System

  • Post author:[email protected]
  • Post published:23/04/2021
  • Post category:Managerial Economics
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What is profit in a market system? Meaning of profit in a market system: - When a firm's revenue is greater than its costs, that firm earns a profit in…

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The Concept of Economic Profit

  • Post author:[email protected]
  • Post published:19/04/2021
  • Post category:Managerial Economics
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What is economic profit? Meaning of Economic Profit: - An economic profit is the difference between the income a business firm receives from its outputs and the costs of its…

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Nature of the firm

  • Post author:[email protected]
  • Post published:12/04/2021
  • Post category:Managerial Economics
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What is nature of the firm? Meaning of Nature of the Firm: - A firm is an association of individuals who have organized themselves for the purpose of turning inputs into output.…

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The Circular flow of Economic Activity

  • Post author:[email protected]
  • Post published:10/04/2021
  • Post category:Managerial Economics
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What is the circular flow of economic activity? Meaning of the circular flow of economc activity: - The circular flow of economic activity is an economic model that shows the…

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