Master of Business Administration- MBA Semester 1 February 2012 MB 0042: “Managerial Economics”- (4 credits) (Book ID: B1131) Assignment Set- 1 (60 Marks) ------------------------------------------------- Note: Each Question carries 10 marks. Answer all the questions. Q1. Define Managerial Economics and explain its main characteristics. Q2. State and explain the law of demand. Q3. What is Demand Forecasting? Explain in brief various methods of forecasting demand. Q4. Define
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Chapter 5 DEMAND ANALYSIS QUESTIONS & ANSWERS Q5.1 Q5.1 Is the economic demand for a product determined solely by its usefulness? ANSWER No‚ two basic conditions must be met before economic demand is created. First‚ there must be value associated with acquiring and using the good or service. For individuals‚ this value is in terms of utility‚ well being‚ or satisfaction through consumption. For firms‚ this value is measured in terms of the profit created through resource employment. Second‚ there
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AP Statistics Chapt. 6 Wksht Name__Solutions_______________ Date_________________________ Answer the following questions from the given situation. Suppose a Normal model describes the fuel efficiency of cars currently registered in your state. The mean is 24 mpg‚ with a standard deviation of 6 mpg. -3σ - 2σ -1σ μ 1σ 2σ 3σ 1. Sketch the Normal model (label). 68% 95% 99.7 % 2. What percent of cars get less than 15 mpg? 15 24 z 1.5 P(y<15)=P(z<-1.5)=6.7% 6 12 18 24 30 36 42 6 3. What percent
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QUESTION 9.2 NARRABRI LTD The carrying amount of the assets of the Toy Train Division is $500 000. If the value in use is $423 000‚ then there is an impairment loss of $77 000. The impairment loss is firstly used to write off the goodwill - $50 000. The balance of the loss - $27 000 – is allocated across the other assets‚ except for inventory assuming it is recorded at the lower of cost and net realisable value: Carrying Proportion Allocation Net Carrying Amount of Loss Amount
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1. Introduction The term experiment is defined as the systematic procedure carried out under controlled conditions in order to discover an unknown effect‚ to test or establish a hypothesis‚ or to illustrate a known effect. When analyzing a process‚ experiments are often used to evaluate which process inputs have a significant impact on the process output‚ and what the target level of those inputs should be to achieve a desired result (output). Experiments can be designed in many different ways to
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Managerial Skills Management is a challenging job. It requires certain skills to accomplish such a challenge. Thus‚ essential skills which every manager needs for doing a better management are called as Managerial Skills. According to Professor Daniel Katz‚ there are three managerial skills‚ viz.‚ 1. Conceptual Skills‚ 2. Human Relations Skills‚ and 3. Technical Skills. According to Prof. Daniel Katz‚ all managers require above three managerial skills. However‚ the degree (amount)
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UNIVERSITY OF GUYANA FACULTY OF SOCIAL SCIENCES DEPARTMENT OF ECONOMICS ECN 213 - MANAGERIAL ECONOMICS COURSE OUTLINE SUMMER - 2010 LECTURER: Roger Rogers E-mail: rogers.roger@gmail.com INTRODUCTION Managerial Economics provides a foundation of economic understanding for use in managerial decision-making. Both microeconomic and macroeconomic relations have implications for this decision-making process. Since the demand for a firm’s products plays a major role in determining its
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Managerial economics is a science that deals with the application of various economics theories‚ principles‚ concepts and techniques to business management in order to solve business and management problems It deals with the practical application of economic theory and methodology to decision-making problems faced by private‚ public and non profit making organizations.. In the words of Spencer and Seigelman "Managerial Economics is the integration of economic theory with business practice for
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The Emerald Research Register for this journal is available at http://www.emeraldinsight.com/researchregister JMD 22‚8 The current issue and full text archive of this journal is available at http://www.emeraldinsight.com/0262-1711.htm Managerial work roles in Asia An empirical study of Mintzberg’s role formulation in four Asian countries 694 Received July 2002 Revised December 2002 Accepted December 2002 Cecil A.L. Pearson Murdoch University‚ Murdoch‚ Perth‚ Australia‚ and
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owned by its stockholders. This could range from a single shareholder in a closely held corporation to hundreds of thousands of shareholders in a publicly traded organization. Furthermore‚ some of the key terms that associated with Corporate or Managerial finance would be Liability - financial claims towards an organization assets which is not consider equity‚ Cash flows which consider money moving through companies‚ Corporation which is a distinct legal entity and Assets that could help the business
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