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Q1.Clearly distinguish between economics and managerial economics Q2.Define the concept of opportunity cost. What are its applications in decision making? Q3. (a) Discuss the types

Q1.Clearly distinguish between economics and managerial economics

Q2.Define the concept of opportunity cost. What are its applications in decision making?

Q3. (a) Discuss the types of risks faced by a business firm

(b) Explain the ways of managing risk in an organisation

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