Managerial Economics Assignment Help
Online Managerial Economics Assignment Writing solutions
Managerial Economics, also referred to as business economics deals with the study and application of economic concepts and analysis for making rational decisions that would be beneficial for the company not just in the short run but also in the long run. This branch of economics makes use of microeconomic analysis and basically bridges economic theories and practices. It draws heavily from quantitative techniques such as regression analysis, correlation, and calculus.
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As per our managerial economics assignment help experts, this subject revolves around the science of directing scarce resources to manage cost effectively. It is studied under three branches namely competitive markets, market power, and imperfect markets. Whether a market is local or global, the same managerial economic theories are applied to it. A seller with market power has the freedom to choose suppliers, set prices, and use tactics to influence demand. Almost any business decision can be analyzed with managerial economic techniques, but it is most commonly applied to the following areas:
As per our online managerial economics assignment help experts, it's important for a firm to assess the current demand and the future demand of its products and services. By implementing different techniques of demand analysis and forecasting, managers can identify the various factors that influence the demand for the product.
Cost and production estimation are very essential in decision-making. Thus, the factors that influence variation in costs must be recognized and allowed for planning purposes. The main reason for cost uncertainty exists when factors determining costs are uncontrollable. Managerial economics handles these aspects of cost analysis effectively.
Our managerial economics assignment help experts say that a firm should know what amount of raw materials it should maintain. If the inventory is too high, it means the capital remains unnecessarily tied up and if its less, that might hamper the production process. Therefore, managers should make use of the Economic Order Quantity (EOQ) approach and ABC analysis to know the exact inventory required for smooth operations.
Advertising holds a major importance in promoting a business and its products. But many times firms do not spend the requisite amount in this, which leads to a decrease in sales. So, a manager should set an advertising budget on the basis of any method such as Percentage of All You can Afford Approach, Sales Approach, Objective and Task Approach, Competitive Parity Approach, or Return on Investment Approach.
Pricing is a crucial part of managerial economics. While pricing a commodity, the cost involved in production should be taken into account. And, it's important for the firm to make a market research and competitor’s analysis before setting the expected profit.
Profit analysis is one of the major aspects of managerial economics. It projects future earnings and involves the analysis of the actual and expected behaviour of firms, the sales volume, prices, and competitor’s strategies, etc. The main aspects covered under this area are the nature of profit and profit policies.
Our writing experts are well versed in all the above-mentioned areas of managerial economics, and they keep themselves updated with the evolution and emerging concepts in the subject. So, it doesn’t matter what topic you have been given by your professor; we can easily provide you with a well-written document that will surely help you score good marks.
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