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Hello tutor please help me with this. Answer must be briefly but thoroughly. Also must be on your own words. Need it ASAP rn. 1.

Hello tutor please help me with this. Answer must be briefly but thoroughly. Also must be on your own words. Need it ASAP rn.

1. Explain the difference of an optimal solution to a managerial decision problem by using Managerial Economics. Cite a simple example.

2. In your opinion, how does managerial economics maximize the profit of the firm.

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