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Distinguish between return to scale laws of variable proportion in the contest of business decision making?
what will be the maximum wage that firms are willing to pay in laws of variable proportion show graphically
Elaborate the cost concept is important for decision making?
Cost concept for Decision making ?
How do you think good decision making contributed to the success of NASCAR?
A good decision making that contributed to the success of NASCAR was A good decision making that contributed to the success of NASCAR was
What are the economic tools of managerial decision making?
what are the economic tool which help manager in decision making
Role of managerial economic in decision making?
The role of managerial economics in decision making is to help in the analysis of economic trends which will be used in making critical decision. This will focus on past, present and future economic patterns.
What is depedent variable?
it is the x on the graph.
What are the 3 kinds of variables?
independent variable,depedent variable and control variable are the 3 kinds of variables.
How would you describe the three different types of variables?
consonant depedent controlled variable
What is democracy and diversity?
Democracy means in which all the decision are taken by the people.people take their own decision and not depedent of each other.
Is variable cost a relevant cost?
No. If a variable cost does not differ between alternatives than it is irrelevant.
Limitation of expected value in decision making?
Expected value of a random variable requires that the random variable can be repeated in experiment indefinitely. If the random variable can only be repeated finite times, e.g. once, there is an inadequacy of the expected value principle for a decision maker.
A variable that changes as a result of the other variable?
The dependent variable.
What is markov analysis in decision making process in management?
Markov analysis is a method of analyzing the current behavior of some variable in an eifort topredict the fiature behavior of that same variable.
Distinguish between return to scale laws of variable proportion in the contest of business decision making?
what will be the maximum wage that firms are willing to pay in laws of variable proportion show graphically
What is decision and decision making?
Decision making is the process by which a decision is made. Communicating, when it comes to decision making, is the way the information about that decision is distributed to ensure everyone is aware.
What is scientific decision-making?
Making a decision... but scientifically ! :)
State 6 steps of desion making and explain each?
There are a few steps in making a decision. The steps to making a decision are think about what to do, the after math of the decision and then making the decision.
