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What are the uses of elasticity of demand for managerial decision making?
Wiki User
∙ 11y ago
It help the management to analyze the change in prise of the products
Wiki User
∙ 11y ago
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Why is demand estimation and forecasting important for managerial decision making?
why is demand estimation and forecast important for managerial decision making
What role does price elasticity demand play in decision making by business firms?
price elasticity
What economic conditions are relevant in managerial decision making?
There are seven economic conditions which are relevant in managerial decision making. The conditions are market structure, supply and demand condition, technology, government regulation, international dimensions, future conditions and macroeconomic factors.
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.
Why is the concept of price elasticity of demand potentially very useful for a business?
Role of price elasticity in business decision: See every producer has to decide the price of a product ar which he has to sell it.While deciding it,price elasticity of demand becomes important for him.If the demand of his productis less elastic,he will fix up a higher price or vice-versa. The concept of price easticity helps the producers` when they havetodetermine the price of jointlypouced goods. For example: oil and oil cakes are two joint goods.If the demand for oil is inelastic as compared to the demand for oil cakes,a higher price for oil is charged.
Why is demand estimation and forecasting important for managerial decision making?
why is demand estimation and forecast important for managerial decision making
What role does price elasticity demand play in decision making by business firms?
price elasticity
What is the importance of price elasticity of demand in decision making with regards to choosing the best pricing strategy to maximize revenue?
Supply + Demand = Price
What jobs use confidence intervals?
Any kind of decision making - which means all managerial jobs.Any kind of decision making - which means all managerial jobs.Any kind of decision making - which means all managerial jobs.Any kind of decision making - which means all managerial jobs.
Role of cost accounting in managerial decision making?
Role of cost accounting in managerial decision making?"
What economic conditions are relevant in managerial decision making?
There are seven economic conditions which are relevant in managerial decision making. The conditions are market structure, supply and demand condition, technology, government regulation, international dimensions, future conditions and macroeconomic factors.
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.
Why is the concept of price elasticity of demand potentially very useful for a business?
Role of price elasticity in business decision: See every producer has to decide the price of a product ar which he has to sell it.While deciding it,price elasticity of demand becomes important for him.If the demand of his productis less elastic,he will fix up a higher price or vice-versa. The concept of price easticity helps the producers` when they havetodetermine the price of jointlypouced goods. For example: oil and oil cakes are two joint goods.If the demand for oil is inelastic as compared to the demand for oil cakes,a higher price for oil is charged.
Explain Managerial economics is economics applied in decision making?
Explain Managerial economics is economics applied in decision making?
Significance of managerial economics in decision making?
significance of managerial economics is decesion making
What has the author G P Marshall written?
G. P. Marshall has written: 'Economics of managerial decision-making' -- subject(s): Decision making, Decision-making, Managerial economics
What are the economic tools of managerial decision making?
what are the economic tool which help manager in decision making
