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Principles of Managerial Economics

According to the managerial economics assignment help experts- economics principles can assist in analytical decision-making and argumentative thinking. The principles also develop the logical aptitude and strength of a manager.

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Principles of Managerial Economics

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  1. Marginal and Incremental Principle This principle states that a decision is said to be rational and sound if,given the firm's objective of profit maximisation,it leads to an increase in profit. Equi-marglnal Principle The borderline utility is derived from the additional unit of an entity consumed. Opportunity Cost Principle The worth of the next-highest-valued alternative use of that resource. Discounting Principle Ifa decision affects costs and incomes,in the long run,all those expenditures and revenues must be discounted to present values before a valid comparison of alternatives is possible.

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