& Scope of Managerial Economics Contents Fundamental Economics Concepts: Opportunity Cost‚ Discounting principle‚ Time perspective‚ Incremental reasoning‚ Equi-marginal concept. Marginal concept in economics. Economics of information: Risk‚ Uncertainty‚ Asymmetry of information‚ Adverse Selection‚ Market Signaling. The theory of firm; Econometric Models & Economic optimization. ____________________________________________________________________________________ Economics Basics: Introduction
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1 FIRST SEMESTER Managerial Economics Subject Code:1001 Contact Hours: 60 Work Load: 4hrs/week Credit Points: 04 Semester End Exam Marks: 80 Internal Marks: 20 OBJECTIVES: 1. To familiarize students with Micro Economic Concepts used in Decision Making. 2. To develop application and analytical skills by using these concepts to make managers effective in economic decision making. Module: 1 (10 Hours) Introduction to Economics - Introduction to Managerial Economics- concept‚ Nature‚ Scope
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chapter Six businesses and Their Costs ANSWERS TO END-OF-CHAPTER QUESTIONS 6-1 Distinguish clearly between a plant‚ a firm‚ and an industry. Contrast a vertically integrated firm‚ a horizontally integrated firm‚ and a conglomerate. Cite an example of a horizontally integrated firm from which you have recently made a purchase. A plant is an operating unit where production takes place. This production can be manufacturing‚ farming‚ mining‚ retailing‚ wholesaling‚ warehousing—anything
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contributions * Who owns what and in what percentages * Customer contract details * Services performed * Due date * Risks involved * Cost of services 2. Litigation (discussed later in the chapter) Litigation refers to lawsuits‚ the process of filing claims in court‚ and ultimately going to trial. 3. Alternative Dispute Resolution Alternative dispute resolution is any other formal or informal process used to settle disputes without resorting
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20 points (together) g. Cooperates = 2 points (individually) ? 20 points (together) h. Monopolize = 8 points (dual) ? 16 points Matrix: 1-A Question 1: If the players play only once‚ what strategy do you expect the players to adopt? Answer 1: An assumption is made that it is an implicit understanding that each player wants to play hard and score as many points as possible in a given basketball game. If the players play together only once against another opponent the best strategy
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1 Managerial Economics 2010 Answers to All Tutorial Questions Topic 1 : What is managerial economics Questions from Chapter 1 of the Text (McTaggart‚ Findlay & Parkin) Review Question 1 (pp. 4) List some examples of scarcity in Australia today. An example of scarcity at the economy-wide level would be people with lower incomes being forced to choose between food and petrol due to high prices for both. An example of scarcity at an individual level would be a person unable to afford both
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Lesson 4 - introduction to control statements Fill in the Blanks Complete the following sentences by writing the word or words in the blanks provided. 1. In the statement‚ x =3;‚ the ’ =’ operator is one of Java’s extended assignment operators. 2. Using the same name for two methods in the same class‚ where each method has different parameter input‚ is called overloading. 3. The nextInt method of Java’s Random class returns an integer chosen at random from a range of values between 0 and n-1
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Chief Characteristics Of Managerial Economics It would be useful to point out certain chief characteristics of Managerial Economics‚ inasmuch it’s they throw further light on the nature of the subject matter and help in a clearer understanding thereof. 1. Managerial Economics micro-economic in character. 2. Managerial Economics largely uses that body of economic concepts and principles‚ which is known as ‘Theory of the firm’ or ‘Economics of the firm’. In addition‚ it also seeks to apply
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American History Section 4-1 •Stamp Act: The Stamp Act required colonists to purchase special stamped paper for every legal document‚ license‚ newspaper‚ pamphlet‚ and almanac‚ and imposed special “stamp duties” on packages of playing cards and dice. •Samuel Adams: One of founders of Sons of Liberty was Harvard-educated Samuel Adams‚ who‚ although unsuccessful in business and deeply in debt‚ proved himself to be a powerful and influential political activist. •Townshend Acts:
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MEANING SCOPE AND METHODS OF MANAGERIAL ECONOMICS INTRODUCTION Emergence of managerial economics as a separate course of management studies can be attributed to at least three factors.: (a) growing complexity of business decision making process due to changing market conditions and business environment (b) consequent upon‚ the increasing use of economic logic ‚ concepts theories and tools o economic analysis in the process of business decision making (c) Rapid increase in demand for professionally
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