Managerial Economics Assignment - 952 Words

MS- 09: MANAGERIAL ECONOMICS ASSIGNMENT Course Code : MS- 09 Course Title : Managerial Economics Assignment Code : 9/TMA/SEM-II/2010 Coverage : All Blocks Attempt All the Questions. â€Å"A close relationship between management and economics has led to the development of managerial economics.† Explain this statement. BOOK NO 1 PAGE NO. 7 Managerial Economics consists of the use of economic modes of thought to analyse business situation Spencer and Siegelman have defined Managerial Economics as â€Å"the integration of economic theory with business practice for the purpose of facilitating decision-making and forward planning by management†. We may, therefore define Managerial Economics as the discipline which†¦show more content†¦So – how many units do we have to sell to drive marginal revenue down to the $0.25 marginal cost level? We can calculate that: Q where MR = MC is ($1.749995 – $0.25)/($0.00001) = $1.49995/$0.00001 = 149,995 units. Hey – that is more than production capacity! Therefore, the best we can do is full production of 140,000 units. Now we need to calculate the price, revenue, costs and profits associated with full production. Answering the questions At 140,000 units, with P = 1.75 – 0.000005 Q P = 1.75 – (0.000005 * 140,000) P = 1.75 – 0.70 P = $1.05 $1.05 Revenue is quantity times price or 140,000 * $1.05 = $147,000 Costs are $50,000 + $0.25 * 140,000 C = $50,000 + $35,000 C = $85,000 Profit = $147,000 – $85,000 = $62,000 3. Briefly describe the Optimal Combination of inputs with the help of an example. 4. Does Price Discrimination exist in the real world? Discuss with reference to any particular product or service. 5. Write short notes on the following :- a) Market Demand Schedule b) Peak Load Pricing c) Income Elasticity of Demand ----------------------- MS-09 Management Programme ASSIGNMENT SECOND SEMESTER 2010 MS-09: Managerial Economics [pic] School of Management Studies INDIRA GANDHI NATIONAL OPEN UNIVERSITY MAIDAN GARHI, NEW DELHI – 110Show MoreRelatedManagerial Economics Assignments3979 Words   |  16 Pages Appendix A: ASSIGNMENT COVER SHEET | | Date Received:........................................................... | | | Programme | Master of Business Administration | Module Name | Assignment: Managerial Economics | Surname | Amweenje | First Name/S | Edward Ludwig | Student Number | MBA1120419 | Date Submitted | 21 May 2012 | Postal Address | P.O. Box 62705 | | WANAHEDA | | Namibia | | 0000 | E-MAIL myregent email address | @myregent.acRead MoreManagerial Economics: Assignment2076 Words   |  9 PagesIn this paper we shall focus first on the key characteristics of TCE (transactions cost economics) giving a theoretical introduction of its concepts. We will then analyze the vertical boundaries of Ross C, the company I currently work for, and we will see how they evolved during the years. The discussion will concern the â€Å"to buy or to make† dilemma applied to the real case of the sales force. We will in fact show the transition from the sale force as outside agents (to buy) to the sale forceRead MoreManagerial Economics : Assignment Questions1409 Words   |  6 Pages Managerial Economics: Assignment 5 Andrew Amason BUS 640: Managerial Economics (NAI1629A) Dr. Neal Johnson August 15, 2016â€Æ' Problem 1: Jessica Alba, a famous actress, starts the baby and family products business, The Honest Company, with Christopher Gavigan. 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