Question

identify the areas of decision making where managerial aconomics prescribes solution to the business problem

Answer 1

Explanation:

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The five steps involved in managerial decision making process are explained below:

Establishing the Objective: ADVERTISEMENTS: ...

Defining the Problem: ...

Identifying Possible Alternative Solutions (i.e. Alternative Courses of Action): ...

Evaluating Alternative Courses of Action: ...

Implementing the Decision: