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    This document contains questions related to key concepts in managerial economics including: methods of managerial economics and their use in solving business problems; the nature and scope of managerial economics; the significance of economics in decision making; elasticity of demand including cross elasticity; definitions and types of demand; the law of demand and exceptions; demand determinants and distinguishing between substitutes and complements; business cycles and the phases of trade cycles; returns to scale and distinguishing it from returns to variable proportions; explicit costs and implicit costs; and distinguishing between short-run and long-run costs and the importance of that distinction.

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    This document contains questions related to key concepts in managerial economics including: methods of managerial economics and their use in solving business problems; the nature and scope of managerial economics; the significance of economics in decision making; elasticity of demand including cross elasticity; definitions and types of demand; the law of demand and exceptions; demand determinants and distinguishing between substitutes and complements; business cycles and the phases of trade cycles; returns to scale and distinguishing it from returns to variable proportions; explicit costs and implicit costs; and distinguishing between short-run and long-run costs and the importance of that distinction.

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    © All Rights Reserved
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    Download as docx, pdf, or txt
    5 views1 page

    Untitled

    Uploaded by

    anuj
    This document contains questions related to key concepts in managerial economics including: methods of managerial economics and their use in solving business problems; the nature and scope of managerial economics; the significance of economics in decision making; elasticity of demand including cross elasticity; definitions and types of demand; the law of demand and exceptions; demand determinants and distinguishing between substitutes and complements; business cycles and the phases of trade cycles; returns to scale and distinguishing it from returns to variable proportions; explicit costs and implicit costs; and distinguishing between short-run and long-run costs and the importance of that distinction.

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    © All Rights Reserved
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    of 1

    Q. Write a short note on methods of managerial economics.

    Q. Discuss the nature and scope of managerial economics.


    Q. Discuss the various methods of managerial economics to solve business problems.
    Q. Write a short note on methods of managerial economics.
    Q. Write brief note on: Significance of Economics in Decision Making.
    Q. Explain the concept of Elasticity of Demand with reference to cross elasticity.
    Q. Define Demand. Explain the concept of demand. Discuss its various types.
    Q. Discuss Law of Demand. What are the exceptions to the law of demand?
    Q. Describe demand determinants with suitable example. Distinguish between substitutes and
    complements with examples. How does this distinction of goods help in business decision making?

    Q. What do you mean by Business Cycle? What are the difference phases of trade cycle?
    Q. Explain the law of Returns to scale. Distinguish between the Returns to Scale and the Returns to
    variable proportions.

    Q. Write a short note on explicit cost. Write a short note on Implicit cost.
    Q. Distinguish between costs in the short – Run and costs in the Long – Run. What is the
    importance of this distinction?

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