Question

How is economic effect on effective management? Explain the Significance of Marginal Analysis in Managerial Economics?...

How is economic effect on effective management?

Explain the Significance of Marginal Analysis in Managerial Economics?

Explain with details

Homework Answers

Answer #1

The effective management helps to utilize the available resources optimally so that firms gain competitive advantage in business and gain good market share.

Marginal analysis helps to understand how better resources be used in a business activity. For example while making a production decision; the raw material can be used till the marginal cost equals the marginal benefit. So when MC exceeds MB, the firm starts to have lesser profit and the use of raw material can be stopped.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
One key lesson that you have learnt as a student of Managerial Economics is that, average...
One key lesson that you have learnt as a student of Managerial Economics is that, average and marginal relationships provide a lot of insights into the effective management of a business. Draw on your life experience to explain the importance of average and marginal relationships in your day-to-day business transactions.
How does managerial finance function relates with economics?
How does managerial finance function relates with economics?
A U.S. textbook publisher is introducing a new economics textbook, Managerial Economics- is no Graphing matter,...
A U.S. textbook publisher is introducing a new economics textbook, Managerial Economics- is no Graphing matter, to the domestic market. Each book is produced at a constant marginal cost of $80 per book. Management predicts that annual domestic demand for the book is Pd=278-0.3Qd, where Pd= price of a book in dollars, and Qd denotes the number of books (as measured in thousands). Assuming a fixed cost of $15,000 and the variable cost of $80 per book. A. Compute the...
Public Economics. Explain how diminishing marginal return is consistent with risk aversion.
Public Economics. Explain how diminishing marginal return is consistent with risk aversion.
How is managerial economics related to other disciplines like finance, accounting, budgeting?
How is managerial economics related to other disciplines like finance, accounting, budgeting?
Subject: Managerial Economics Assume that total benefits are B(Q) = 24Q – 2Q2 and total costs...
Subject: Managerial Economics Assume that total benefits are B(Q) = 24Q – 2Q2 and total costs are C(Q) = 4 + Q2 2.1 Find the value of Q that maximizes net benefits. Find marginal net benefits. 2.2 Explain the following graph
name two project management planning tools and explain how they contribute to effective project management
name two project management planning tools and explain how they contribute to effective project management
Economics 1. Explain the impact of steamships on economic development. 2. Explain the impact of railroads...
Economics 1. Explain the impact of steamships on economic development. 2. Explain the impact of railroads on economic development. 3. Explain the impact of telegraphs on economic development
identify and briefly state the significance of Marginal Efficiency of Capital to the history of economic...
identify and briefly state the significance of Marginal Efficiency of Capital to the history of economic thought
Economics and Sports Econ 3030 Briefly explain why multiplier-based estimates of the economic impact of mega-sporting...
Economics and Sports Econ 3030 Briefly explain why multiplier-based estimates of the economic impact of mega-sporting events like the Super Bowl are typically overstated. Briefly, what was the economic significance of Marvin Miller?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT