“Anyone who is willing to learn the language of economics and take the time to practice making decisions can learn to be effective manager.” Describe how.
The management board wishes to investigate the demand for powdered milk in Mauritius.
(a) What do you consider to be the most significant factors affecting the demand for milk?
(b) Describe how the several concepts of elasticity’s can assist in making decisions?
Discuss the factors influencing the decisions to enter the market of product with which you might be familiar.
“Collusion is the likely outcome in every oligopolistic industry”. describe.
“Profit is maximised when marginal revenue is equivalent to marginal cost. This should be the only way to reap maximum profit.” Do you agree? Use illustrations to demonstrate.
Describe why government intervenes and how these influence managerial decisions?