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2. Managerial Economics Q1.What is Managerial Economics? Explain. Q2.Economist’s concept of profit is of ‘pure profit’ called’ economics profit’ or ‘just profit’. Explain. Q3.Explain the approaches to Consumer Demand Analysis. Q4.Describe the determinants of Price Elasticity of Demand.

3. Q5.Given the technology, what happens to the rate of return when more plants are added to a firm? Explain. Q6.Explain the characteristics of perfect competition.

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