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...Saqs laqs of managerial economics unit i introduction to short answer questions saq define co explain the incremental concepts equi marginalism what is meant by opportunity cost term utility statement law diminishing marginal principle are properties indifference curve demand giffen s paradox why slopes downward price elasticity income cross point method measuring arc relationship between total revenue and forecasting list various methods long question laq nature scope integration economic theory with business management practices for decision making forward planning equimarginal technique or rate substitution limitations determinants ii production analysis do you mean function cobb douglas iso quants economies scales fixed variable average historical vs replacement implicit explicit envelope proportions critically evaluate returns increasing it observed be applicable in industries diseconomies concept isoquant detail output period iii market structure pricing perfect competition chara...