MS105 Managerial Economics
by Unit 1 Introduction {Book} Nature, Scope and Significance of Managerial Economics VIEW Managerial Economics and relationship with other Disciplines VIEW Role of Managerial Economics in …
Tag: Elasticity of Demand
Principal of Maximum Social Advantage
The ‘Principle of Maximum Social Advantage (MSA)’ is the fundamental principle of Public Finance. The Principle of Maximum Social Advantage states that public finance leads …
Steps in Conjoint Analysis
Companies should follow these steps in order to develop a conjoint analysis: Product/service attributed should be selected. For example, size, appearance, price, functionality, user friendliness. …
Uses of Conjoint Analysis
Conjoint analyses can break-down large number of attributes into smaller bundles for evaluations and comparison. There attributes can also be compared in pairs: Respondents can …
Law of Supply, Assumptions, Types, Example
Law of Supply, Assumptions, Types, Example
Consumer’s Equilibrium
Consumer’s Equilibrium refers to the point at which a consumer maximizes their satisfaction or utility, given their budget constraint. It occurs when the consumer allocates …
Utility Approach
It is a measure of satisfaction an individual gets from the consumption of the commodities. In other words, it is a measurement of usefulness that …
Indifference Curve Approach
Marshall’s demand analysis is based on the cardinal measurement of utility. The approach is criticised for two reasons. (i) Utility is a psychological phenomenon and …
Oligopolistic Behavior
The word Oligopoly is derived from two Greek words – ‘Oligi’ meaning ‘few’ and ‘Polein’ meaning ‘to sell’. An Oligopoly market situation is also called …
Determination of Rent
According to modern economists, rent is considered as the payment made against the use of land by a tenant. They explained the concept of rent …
You must be logged in to post a comment.