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What is the scope of managerial economics in the field of engineering?

costs:- technology has multi-dimensional impact on costs, one hand technology determines what combination of various factor is to be used e.g capital -intensive technology or labor intensive technology


define managerial economics?

Managerial economics is an applied field of economics that focuses on the use of economic analysis and techniques to solve business decisions. It combines economic theory with managerial practice and focuses on the microeconomic aspects of an organization, such as demand analysis and pricing, production costs, and investment decisions. Managerial economics applies microeconomic analysis to specific decisions in order to optimize outcomes and maximize profits. It also considers the macroeconomic environment in which a business operates, such as global economic trends and government regulations. Managerial economics provides a framework for understanding how businesses interact with their environment and make decisions that will impact their long-term success.


How managerial economics bridge between economics and business management?

Managerial economics serves as a critical link between economics and business management by applying economic theories and concepts to real-world business decisions. It provides tools for analyzing market dynamics, understanding consumer behavior, and evaluating the impact of external factors on business operations. By integrating quantitative analysis and strategic thinking, managerial economics helps managers optimize resource allocation, set pricing strategies, and assess risk, ultimately enhancing decision-making and improving overall business performance.


What is the impact of effective business communication to managerial performance?

What is the impact of effective business communication on managerial performance


What are parameters of managerial economics?

Managerial economics involves several key parameters that guide decision-making within firms. These include demand analysis, production and cost functions, market structure, pricing strategies, and risk analysis. Additionally, it considers the impact of external factors such as government policies and economic conditions on business operations. By integrating economic theory with managerial practices, these parameters help optimize resource allocation and enhance strategic planning.


Impact of information techonology on public administration?

whats new in information technology?


What is the impact of information communication technology in the economic development?

the impact of ict and the use of it in schools


Impact of information technology on society?

It makes things easy!


What is the role of managerial economics in lpg?

Managerial economics plays a crucial role in the liquefied petroleum gas (LPG) sector by facilitating informed decision-making regarding pricing, production, and market strategies. It helps firms analyze demand and supply dynamics, optimize resource allocation, and assess the impact of government regulations and market competition. Additionally, managerial economics aids in forecasting trends and evaluating investment opportunities, ensuring that LPG companies remain competitive and profitable in a rapidly evolving market. Overall, it integrates economic theory with business practices to enhance operational efficiency and strategic planning.


Why is technology beneficial in economics and how does it impact the overall economic landscape?

Technology is beneficial in economics because it increases efficiency, productivity, and innovation. It impacts the overall economic landscape by driving growth, creating new industries, and changing how businesses operate and compete in the global market.


Impact of Information Technology on forex trade?

Impact of information technology on forex trade is immense. In fact in today's world,transfer of money via SWIFT is made from one country to other by the twinkling of the eye, by the blessings of information technology. Even any stoppage of service due to technical reason causes havoc in forex trade and its impact is unimaginable. Without information technology, forex trade is no where to exist.


What is impact factor of international journal of computer science and information technology?

don't think it has an impact factor