"The nature of managerial economics is normative science like psychology sociology human behavior" Essays and Research Papers

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    views on how much nature and nurture influences the human behaviour and identity. Sociologists tend to favour nurture over nature‚ while psychologists tend favour nature over nurture. The fact that both of these scholars tend to favoured one over the other through the ages has resulted in the constant recur of the nature verse nurture debate. This is a debate that explores the importance of biological (heredity) and cultural (Social environment) factors in the process of the human beings development

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    Is psychology a science?

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    Is psychology a science? One reason why psychology may not be considered a science is its lack of a distinct paradigm. Science must involve a definable subject matter. During the 17th century Descartes believed strongly in the consciousness‚ sparking psychological research‚ but even then there was no paradigm as there is supposedly none today. Thomas Kuhn claims that psychology cannot be considered a science because it is split into different approaches‚ for example‚ cognitive‚ biological‚ behaviourist

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    Psychology vs Sociology

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    Sociology | Psychology vs Sociology | [Type the document subtitle] | | Nicole Yardley | 10/24/2010 | | Nicole Yardley Sociology 10/24/10 IP Unit 1 Psychology and sociology has their similarities and differences. Psychology is the study of behavior and of the functions and processes of the human mind‚ especially related to the social and physical environment. Sociology is defined as the study of group behavior within a society. Psychologists are more interested with what

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    What is the relationship of sociology to economics ? Sociology and economics are the branches of the social sciences .They have very close relationship.Economics deals with the economics activities of man which is also called science of bred and butter.Economics is the study of production‚distribution and consumption of goods and services. Economics is concerned with material welfare of the human beings.Economics welfare is only a part of himan welfare and it can be only sought only with the proper

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    SOCIOLOGY CANNOT BE A SCIENCE BECAUSE ITS SUBJECT MATTER IS TOO VARIED‚ ABSTRACT AND DIFFICULT TO MEASURE I strongly support with the moot which states that “Sociology cannot be a science because its subject matter is too varied‚ abstract and difficult to measure. The term science may be defined as the body of knowledge obtained by methods based on systematic observation. Science is made up of four components which are empirical‚ theoretical‚ cumulative and objective.  The empirical aspect deals

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    Managerial Economics

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    QUESTION 1: Angel plc is a listed industrial business and is considering a major investment. The investment projects team needs an appropriate rate at which to discount the estimated after-tax cash flow for the investment. Following the business’s normal practice‚ this is to be based on the weighted average cost of capital (WACC). Figures‚ relating to long-term financing‚ included in the business’s most recent balance sheet are: £m Ordinary shares of £0.50 each (160 million) 80 Share

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    : Managerial Economics

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    Appalachian Coal Mining believes that it can increase labor productivity and‚ there- fore‚ net revenue by reducing air pollution in its mines. It estimates that the marginal cost function for reducing pollution by installing additional capital equipment is MC = 40P where P represents a reduction of one unit of pollution in the mines. It also feels that for every unit of pollution reduction the marginal increase in revenue (MR) is MR =1‚000 =10P. How much pollution reduction should Appalachian Coal

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    Managerial Economics

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    1. Nash equilibrium is where one player maximizes his payoff and the other doesn’t. is where each player maximizes his own payoff given the action of the other player. is where both players are maximizing their total payoff. is a unique prediction of the likely out-come of a game. Use the following to answer Questions 2–4: Consider the following information for a simultaneous move game: Two discount stores (mega-store and superstore) are interested in expanding their market share through advertising

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    Managerial Economics

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    Learning activity 2 ch 3-U2 Read chapter 3‚ Demand and Supply‚ of your textbook. Answer the questions below. If a different source is used‚ identify your reference (title‚ author‚ edition‚ page‚ web page‚ date) as a footnote. Copy and paste are not allowed. Show how you obtained your final result. Take into account the due date for submitting assignments.  1. When do we say that two commodities are complements or substitutes? 2. 2.   When do we classify goods as normal or inferior? According

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    MEANING OF MANAGERIAL ECONMICS (M.E) Managerial economics/applied microeconomics can be defined as the use of economic analysis to make business decisions involving the best use of organizations scarce resources/the application of economic theory and the tools of analysis of decision science to examine how an organization can achieve her objectives most efficiently. M.E may also be defined as the study of economic theories‚ logic and methodology‚ which are generally applied to seek solutions

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