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Subject: Economics Please briefly explain in your own words. What do you think is the importance of studying managerial economics in your own perspective? Explain

Subject: Economics

Please briefly explain in your own words.

  1. What do you think is the importance of studying managerial economics in your own perspective?
  2. Explain the concept of resource allocation.
  3. Explain the equi-marginal principle
  4. What are the factors of production and give one example in each.

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