[Solution]Project

Paper details: In your final project, describe and answer in economic terms a managerial decision you have knowledge about (for example one that has to…

Paper details:
In your final project, describe and answer in economic terms a managerial decision you have knowledge about (for example one that has to be made at your place of employment). Some examples of decisions are:

Should our company hire temporary workers or hire new workers to handle increase demand for our product?Should we buy a new machine or upgrade the old one?What is the optimal level of parts we should order and keep on the shelf?Should we lease or buy a car?Should we rent or buy a house?Should I start a new business?

Note that each of the questions above can be answered in a single sentence. The answer has implications that should influence future actions. In other words, the answer is meaningful and useful. In your answer, use economic language in a manner that demonstrates your understanding of the concepts of this course. This means use economic language correctly, but also briefly explain the economic terms and concepts (Do not write for experts in business and economics).

book
Maurice, S. & Thomas, C. (2011). Managerial economics (10th ed.). New York, NY: McGraw-Hill. ISBN: 978-0-07-33-7591-5.
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