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DRIVE Winter
2015
PROGRAM-
MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2/ PGDBAN2
SEMESTER-
1
SUBJECT
CODE & NAME- MB0042- MANAGERIAL ECONOMICS
BK ID-
B1625
Q1.
Inflation is a global Phenomenon which is associated with high price causes
decline in the value for money. It exists when the amount of money in the
country is in excess of the physical volume of goods and services. Explain the
reasons for this monetary phenomenon. (Define Inflation, Causes for Inflation)
2, 8
Answer: Inflation is defined as a
sustained increase in the general level of prices for goods and services. It is
measured as an annual percentage increase. As inflation rises, every dollar you
own buys a smaller percentage of a good or
Q2.
Monopoly is the situation there exists a single control over the market
producing a commodity having no substitutes with no possibilities for anyone to
enter the industry to compete. In that situation, they will not charge a
uniform price for all the customers in the market and also the pricing policy
followed in that situation. (Define Monopoly, Features of Monopoly, Kinds of
Price Discrimination) 2, 4, 4
Answer:
Monopoly
Monopoly means
existence of a single seller in the market. Monopoly is that market form in
which a single producer controls the whole supply of a single commodity which
has no close substitutes. Monopoly may be defined, as a condition of
production in which a single firm has the power to fix the price of the
commodity or the output of the commodity.
Features of monopoly
Anti-thesis of competition – Absence of competition in the
market creates a situation of monopoly and hence, the seller faces no threat of
competition.
Existence of a
Q3.
Define monopolistic competition and explain its characteristics.
[Definition
of monopolistic competition, Explanation of its characteristics]
Answer:
Monopolistic
Competition
Perfect competition
and monopoly are two extreme forms of market situations, rarely to be found in
the real world. Generally, markets are imperfect.
Prof.
Q4.
When should a firm in perfectly competitive market shut down its operation?
[Define
perfect competition, Explanation about the reason for the firm’s shut down in
perfect competition]
Answer:
Perfect Competition
Perfect competition is
a comprehensive term which includes pure competition too. Before we discuss the
details of perfect competition, it is necessary to have a clear idea regarding
the nature and characteristics of pure competition.
Pure Competition is a part of perfect
competition. Competition in the market is said to be pure when the following
conditions are
Q5.
Discuss the practical application of Price elasticity and Income elasticity of
demand. (Practical application of price elasticity, Practical application of
Income elasticity) 5, 5
Answer:
Practical application
of price elasticity of demand
Few examples on the
practical application of price elasticity of demand are as follows:
1.
Production planning – It helps a producer to decide
about the volume of production. If the demand for his products is inelastic,
Q6.
Discuss the scope of managerial economics. (Definition of Managerial Economics,
Scope of Managerial Economics) 2, 8
Answer:
Managerial Economics
Managerial economics
is a science that deals with the application of various economic 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 in decision-making problems faced by private, public
Get fully solved assignment. Buy online from website
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we will revert you within 2-3 hour or immediate
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