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Eduncle posted an MCQ
October 14, 2019 • 22:54 pm 0 points
  • UGC NET
  • Management

Managerial economics is concerned with which combination of the following ?

Managerial economics is concerned with which combination of the following ? (a) Investment Analysis and Decisions (b) Production Behaviour and Cost Analysis (c) Input Reward Analysis and Decisions (d) Economic Environment Analysis

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    Eduncle Best Answer

    (a), (b) and (d)
    Definition of Managerial Economics:
    Managerial economics is concerned with the application of economic concepts and economic analysis to the problems of formulating rational managerial decisions.
    The integration of economic theory with business practice for the purpose of facilitating decision making and forward planning by management.
    Scope of Managerial Economics:
    Managerial economics deals with the below areas of business:
    1. Demand Analysis and forecasting
    2. Cost & Production Analysis
    3. Pricing Decisions, policies and Practices
    4. Profit Management
    5. Capital Management
    6. Environmental Analysis
    It does not deal with any input reward analysis & its decision.

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