Managerial Economics - ADL-04-Ver2
Assignment - A
Question l. How does economic theory contribute to managerial decisions?Answer:
Managerial economics is the study of economy through the manager's point of view. It is the branch of economics concerned with the application of economic principlesand methodologies in the decision-making function of businesses and other managementunits. It bridges economic theory and economics in practice. Its basic concepts are derivedmainly from microeconomic theory, which studies the behavior of individual consumers,firms, and industries.
Note: Visit for complete and best solution:DistPub.comQuestion 2. Expain the law of demand. Briefly discuss the exception to the law of demand.Question 3. Expain the various components of demand function.Question 4. (i) Given the demand function Qd = 12 - p
a) Find the demand and revenue schedules.b) Find the MR when P - 10, 6 and 2.
Question 4. (ii) Distinguish between linear and non linear demands functions.Question 5. Expain the trend projection method of demand forecasting?
Assignment - B
Question 1. Expain the concepts of return to scale and returns to a factor.Question 2. Expain the following:-
Opportunity CostsFixed CostsSocial and Private CostsSunk Costs
Question 3. Expain the reationship among the average total cost marginal cost andaverage variable costs.