TAILIEUCHUNG - Lecture Managerial economics: Chapter 9 - Dr. Hasnain Naqvi

Chapter 9 - Organizing production. After studying this chapter, you will able to: Explain what a firm is and describe the economic problems that all firms face, distinguish between technological efficiency and economic efficiency, define and explain the principal-agent problem and describe how different types of business organizations cope with this problem. | ORGANIZING PRODUCTION This lecture explains the role of firms and the problems that all firms face Objectives After studying this chapter, you will able to Explain what a firm is and describe the economic problems that all firms face Distinguish between technological efficiency and economic efficiency Define and explain the principal-agent problem and describe how different types of business organizations cope with this problem Objectives After studying this chapter, you will able to Describe and distinguish between different types of markets in which firms operate Explain why markets coordinate some economic activities and firms coordinate others The Firm and Its Economic Problem A firm is an institution that hires factors of production and organizes them to produce and sell goods and services. The Firm’s Goal A firm’s goal is to maximize profit. If the firm fails to maximize profit, it is either eliminated or bought out by other firms seeking to maximize profit. The Firm

• Kinh tế học
• Managerial economics
• Lecture Managerial economics
• Economic principles
• Kinh tế học quản lý
• Fundamentals of managerial economics
• Organizing production
• Market interactions
• Marginal analysis
• Marginal benefit
• Price discrimination
• Monopolistic competition
• Oligopoly games
• Traditional oligopoly models
• Capital market
• Labour market
• Economic equations
• Economic applications
• Economic applications of derivatives
• Economic application
• Multi variable functions
• Constrained optimization
• Scatter diagram
• Forms of money
• Monetary policy
• Perfect competition
• Demand function
• Supply function
• Quantitative demand analysis
• Theory of individual behavior
• Demand estimation
• Production function
• Costs of production