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- In general, managerial economics refers to the integration of economic theory with business: (A) ethics (B) management (C) practice (D)all of the aboveDescribe how specific types of task-oriented behaviors and relationship-oriented behaviors can be used effectively. Include why and when each type is important and appropriate.Every week, Mary plays the piano for three hours, and her grade on each English test is 80 percent. Last week, after playing for three hours, Mary considered playing for another hour. She decided to play for another hour and cut her study time by one hour But last week, her English grade fell to 60 percent. Did Mary make her decision on the margin? OA Mary's decision was not made at the margin because she could have chosen not to play the piano but didn't OB. Mary's decision was not made at the margin because the marginal cost of a lower grade always exceeds its marginal benefit Oc. Mary's decision was made at the margin because her grade fell by only 20 percentage points OD Mary made her decision at the margin because she considered the benefit and cost of one additional hour of playing the piano OE Mary's decision was not made at the margin because she didn't compare the total benefit and total cost of a third hour of playing the piano
- Describe three ways in which human decision making differ from the rational individual conventional economic thoeryScenario and activity: Managerial economics helps in estimating the product demand, planning of production schedule, deciding the input combinations, estimation of cost of production, achieving economies of scale and increasing the returns to scale. It also includes determining price of the product, analyzing market structure to determine the price of the product for profit maximization, which helps them to control and plan capital in an effective manner. Successful mangers make good decisions, and one of their most useful tools is the methodology of managerial economics. Mr Kevin Buffett, the renowned chairman and CEO of Bedfordshire Companies, invested $100 and went on to accumulate a personal net worth of $30 billion. Buffett credits his success to a basic understanding of managerial economics. Buffett's success is a powerful testimony Managerial economics has a very important role to play by helping managements in successful decision making and forward planning. To discharge his…Generally speaking, managerial economics is the application of economic theory to the field of business: a) Ethics b) Management c) Practice d) All of the above.
- Is this example also an example of economically rational decision making? “In 2019, I started my small business by selling prints of my photographs. Now it’s temporarily closed. During this time I had the option of shipping my prints through USPS or UPS. I decided to ship my prints through USPS instead of UPS since it was a bit expensive at the time. My prints that were shipped out from USPS arrived in time and came in good condition. The opportunity cost is the cost of UPS shipping.”O PowerPoint Presen x revision questions G Wheri making the X K. DBachelor%20of%20Project%20Planning%20and%20Management/revision%20questions%20lp. E 4 / 4 100% d. Under the Stackelberg model the leader will earn more profit than the follower. 18. The theory of production does provide managers a formal framework in deciding the effective way of combining inputs for optimal or maximum output. What are the key considerations that managers must consider? 19. What factors in your view are behind monopoly power within markets and what in your view limits monopoly power within markets? 20. Explain the reasoning bchind the fact that a firm in a perfectly competitive market may continue to produce and sell its products at a loss within the short run but might not opt to do so in the long run. A lecture 8 and 9 LP. pdf A Lecture 6 and 7 LP.pdf Show 4:52 17-May BANG &OLUNSEN 40 insert prt sc & 9. お や 8. ゆ back space 9 わ Y e en せ @ H J K ま り ; れ :け1] む ? paus N ね カタカナIn educational economics, what does the term "rate of return to education" refer to? a) The percentage of students who complete their education b) The increase in income or earning potential associated with additional years of education c) The cost of educational resources per student d) The number of schools or universities in a given region
- The acceleration Principle describes an accelerating demand for a good or service resulting in considerable increase in entrepreneurial activity and capital accumulation. The resulting investment in producers goods is large and significant but is followed by a decrease ind emand resulting in a disproportional amount of idle investment relative to the reduced demand for a good or service. As a boom progresses the harder it becomes to buy machines and equipment plants are overloaded with orders for these things their customers must wait a long time before machines are delivered. this generally argues against the acceleration principle. Yet the utility use of the acceleration principe is very positive because A. The level of inventory investment can be explained very well with it B. all of the above C. Investment spending is proportional to the change in output D. It is not affected by the cost of capitalDecision sciences involve * mathematical economics and econometrics. econometrics. macroeconomics and microeconomics. mathematics and operations management.This is not a writing assignment, this is a multiple-choice question All of the statements apply to he Theory of Markets EXCEPT this one: Group of answer choices Profits inspire some of our greates works, even in areas like higher education, the arts and medicine. People sometimes miscalculate their costs and benefits from actions sometimes, and do not necessarily make the best choices. When the price of gas rises some people switch to driving motorcycles. Statistics show that motorcycles have a high rate of accidents. Consumers always know what is in their best interest, and they do accurate cost-benefit assessments before making choices. Market transactions generally make all parties better off.