Assignment on Managerial Economics Studies

Added on - 21 Apr 2020

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Running Head: MANAGERIAL ECONOMICSManagerial EconomicsName of the StudentName of the UniversityAuthor note
1MANAGERIAL ECONOMICSTable of ContentsAnswer 1..........................................................................................................................................2Introduction..................................................................................................................................2Graphs..........................................................................................................................................2Discussion....................................................................................................................................3Conclusion...................................................................................................................................4Answer 2..........................................................................................................................................4Introduction..................................................................................................................................4Graphs..........................................................................................................................................5Discussion....................................................................................................................................6Conclusion...................................................................................................................................7Answer 3..........................................................................................................................................7Introduction..................................................................................................................................7Graphs..........................................................................................................................................7Discussion....................................................................................................................................8Conclusion...................................................................................................................................8References........................................................................................................................................9
2MANAGERIAL ECONOMICSAnswer 1IntroductionThe transaction of goods and services in a market takes place for two simple facts. One isthat it is not possible to produce everything which is consumed. Moreover specialization on aparticular good enhances efficiency and help to produce a larger amount of specialized goods. Inthe market the equilibrium price and output of the good is determined by the intersection of theforces of demand and supply. Any change in either demand or supply causes change in reactionof buyers and sellers and causes a change in the equilibrium position.GraphsFigure 1: Equilibrium with demand and supply(Source: as created by Author)
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