Managerial econ week 2.docx - WEEK 2 DISCUSSION 1 Week 2...

WEEK 2 DISCUSSION 1
Week 2 discussion
Sugunakar Thokala
University of Cumberland’s
Managerial economics
2/08/2021

WEEK 2 DISCUSSION 2
Reflection
The first reading covered decision-making processes that aid in determining whether or
not pursuing an activity is helpful. It presented us with an opportunity to put some of the
principles discussed during the first week into action by developing decision-making methods
for each other. In the case of marginal costs and revenues, for example, we can avoid falling
victim to the fixed-cost fallacy. Understanding the links between marginal costs and margin
revenues can assist us in making appropriate decisions, which can be applied in a number of
business settings, such as those involving manufacturing. For me, one of the most essential
lessons was how marginal analyses can be utilized to enhance effort. As a manager, you must
continuously be able to give creative incentives to your employees and consultants in order to
keep them motivated and on track.