FULLY SOLVED BOOK LASY 5 YEARS PAPERS SOLVED PLUS GUESS

Section 1 MANAGERIAL ECONOMICS: DEFINITION, NATURE, SCOPE

Unit 1 Meaning of Managerial Economics, Nature of Managerial Economics, Contribution of Economic Theory to Managerial Economics, Contribution of Quantitative Techniques to Managerial Economics

Unit 2 Economics and Managerial Decision-making, Scarcity and Decision-making, Scope of Managerial Economics.

Section 2 FUNDAMENTAL CONCEPTS OF MANAGERIAL ECONOMICS

Unit 3 Marginal and Incremental Principle, Equi-marginal Principle, Opportunity Cost Principle, Time Perspective Principle, Discounting Principle

Unit 4 Role of Managerial Economist, Importance of Management Decision-making.

Section 3 DEMAND ANALYSIS

Unit 5 Meaning of Demand, Types of Demand.

Unit 6 Consumer Goods and Producer Goods, Perishable and Durable Goods, Autonomous and Derived Demand, Individual’s Demand and Market Demand, Firm and Industry Demand, Demand by Market Segments and by Total Market.

Unit 7 Determination of Demand, Change in Quantity Demanded (Movement Along the Demand Curve), Shifts of the Demand Curve.

Unit 8 Real World Example: The Real Estate Market Cycle.

Section 4 ELASTICITY OF DEMAND

Unit 9 Meaning of Price Elasticity of Demand, Classification of Demand Curves, according to their Price Elasticities. KENT Centre for Distance Learning Syllabus-KSOU,Mysore www.kenteducation.ac.in III-A/73, Nehru Nagar, GHaziabad-201001 Call@9911303050 Page 6 of 40

Unit 10 Numerical Measurement of Elasticity, Geometrical Measurement of Elasticity

Unit 11 Types of Elasticities of Demand, Cross (Price) Elasticity of Demand, Income Elasticity of Demand, Elasticity of Demand with Respect to Advertisement.

Unit 12 Factors Determining of Elasticity of Demand, Relationship between the Price Elasticity, Average Revenue and Marginal Revenue.

Section 5 PRODUCTION FUNCTION

Unit 13 Production Decision, The Production Function, Production Function: One Variable Input Case: Short- Run Analysis, Law of Variable Proportion of Diminishing Marginal Returns

Unit 14 The Three Stages of Production, Optimal Use of the Variable Input, The Production Function with two Variable Inputs: Long-Run Production Function

Unit 15 Isoquants, Marginal Rate of Technical Substitution, Isocost Lines Optimal Factor Combinations, Equilibrium of a Multi Product Producer, Expansion Path, Changes in Inputs Prices.

Unit 16 Rate of Capital Input (k) Returns to Scale, Economic Region of Production (Ridge Lines), Empirical Production Functions, The importance of Production Functions in Managerial Decision-Making