Q1. What do you mean by managerial economics?
Q2. Define the term Opportunity cost.
Q3. Illustrate the term ‘Marginalism’?
Q4. Describe the fundamental business problems in the decision making.
Q5. What do you mean by endogenous variable?
Q6. Managerial economics is the integration of the economic theory, decision science and business management. Comment on it.
Q7. Describe the importance of Managerial economics.
Q8. prepare down the steps comprised in the scientific approach of managerial economic analysis?