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  • Subject area(s): Marketing
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  • Published on: 14th September 2019
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1. In my opinion Manegerial economy is a concept that provides knowledge about how we work and make decisions to generate profits and achieve effective goals and discuss how can achieve organization  and help manager to know economic organization and managerial behavior.

a) The factors that drive the activity of Managerial Economics:

• Natural Resources

Natural resource factor is a determinant for economic activity. Natural resources can produce products that can meet daily needs. Such as producing forest resources, agriculture, minerals, etc. With we pay attention to the impact that occurred in the future the more advanced economic activity growth, therefore we must regulate the use of natural resources in order to avoid scarcity.

• Human Resources

Qualified human resources have a major influence on the economic development of a country. Human resources are important in carrying out economic activities and have an important role as people who create and do development in economic activities.

• Capital Resources

In a business whether or not a capital greatly affects the economic growth of a country. Capital is something that is used in order to produce goods and services, the capital includes money, equipment, technology, etc.

• Technology Developments

Technology has a role for the growth process of a country, with the existence of the technology then all the production process can be done and produces high quality and fast. With the growing technology then it can affect the effectiveness of a product.

b). before making a decision, it is necessary to calculate the opportunity cost, with the aim of obtaining the best alternative action from various alternatives. For example a public accountant named is siti. By doing a good service and full of the clientpun more and more. Because the client has started a lot then he raises the price because siti is overwhelmed to handle clients who will do consultation. Siti does her work with an average time of 6 hours per day, 6 days / week and 1 year 48 weeks. Siti consulted with the price of Rp. 50,000 / hour. Here we are looking for:

• What is the opportunity cost?

Opportunity cost is:

= 24 x 1 / day x 6 / hour x Rp. 50,000

= Rp. 7.200.000

2. Supply and demand are related to the buying and selling process because at a given price and quantity of the product is determined by the supply and deman. Supply is equatin that can indicate the relationship between the price of goods on the market with amount of good manufacturer and Demand is a good or service that has a certain price level and amount with regard in condition.

a). Elgabraic component in market force:

➢ Supply:

• The emergence of offers from sellers

• Have the number of the apparatus wherever the goods are the amount already specified by the seller.

• The law of supply is an amount already offered from a good and will increase as the price of the goods increases.

➢ Demand:

• The emergence of demand by buyer attitude

• Has the number of requests consisting of various goods ie the amount of goods that can be purchased by the buyer.

• The law of demand is a quantity of goods demanded from low to expensive prices.

b). Factors based on Elgabraic component:

➢ Demand

• Population income

• Total population

• People taste

• Price of goods

• The price of substitute goods

• Other factors (Expectations, Social Relationships, and Politics)

➢ Supply

• Price of goods

• Production costs

• The purpoce of production

• The technology used

• Other things (Social, Political Factors)

3. Qd = 90.000 + 2Px + 12Py – M

The goods X and Y are substitution. Because Coefficient of Py in demand equation is 12 > 0 so the price of good Y is increase. And the consumption of good X is 12 units. And for the consumption of good X by 1 unit because the coefficient of M  is 1 > 0. So the good X is interior

4.  In order to influence changes in the market equilibrium, managers must be prepared to manage the company at the time of the ups and downs. At a time when the market is rising, then we can increase profits by doing marketing. Conversely, when the market is inefficient and the condition of the company has decreased, what should be done is efficiency. In the case of market prices there is a decrease below the total average cost of the company then the company will bear all the economic losses that occur. Companies can lower theaverage total cost by changing to a different size. For example the company increases its plant size, and decreases the average total cost. If other companies follow, then the industry supply curve will shift to the right. This will result in lower prices and less economic benefits. Therefore, if the company does not improve the market conditions for better then it can happen things thatare not in want, such as the occurrence of folded. This will be an option because by selling, fixed and non-fixed costs will be incurred.

5. Companies can sell a product by looking at marketing mix factors to consider consumers in making a decision to buy a product. At this time of marketing greatly affect the success of a company to survive in the market competition, therefore marketing strategy is very important for companies to successfully market their products well. If the manager can not change the customer preferences, then the company must find ideas for the product can be sold that is by using electronic channels or can be spelled out marketing through the internet or social media. Since most people now have social media then this is one of the great opportunities for companies in promoting and selling their products to the public

6. In my opinion Consumer behavior is an action undertaken by individuals, groups or organizations in getting and spending goods and services to meet a need, and this is a major influence for the company in order to produce a profitable value. In this marketing strategy is designed based on trust as well as about consumer behavior. The company must also be able to provide more benefits to consumers than its competitors. Because consumer advantage is a marketing strategy in providing benefits to consumers, requires organizations to work well to anticipate consumer needs as a form of competition. The consumer's reaction to a product determines the success or failure of a product.

a). The product is something that has an object that the manufacturer can offer to buy, use or consume. A Product also has an understanding to the producers as an effort to meet the needs of consumers. The relationship between our product and the competitor's product if our product is a supplementary product is to have differences and to provide an additional satisfaction to the consumer in order to be differentiated from the competitor's product.

b). In a company positioning a product offer is very important in order to get a competitive advantage. If the company that develops this strategy then the income generated fundamentally then should the company will receive benefits in completing all that must be done from related revenues. Companies are very necessary to develop a strategy of determining the product to the intended market. Thus can determine the position of the product and better know what the product is and how customers can respond to the product. The company must be able to make its products more prominent than competitors' products and make it more attractive for buyers to buy the product. Companies should also look at special features in order to differentiate our products with products that will be sold with competitors.

c). The theory of consumer behavior is where consumers can try to determine a revenue in order to produce limited money among goods and services so that they can buy various goods and services in accordance with what is expected.

For example when we want to buy a motor with a good brand. Honda is a motorcycle product that has a large buyer enthusiast. With the current competitive conditions are getting tougher then the company must be able to retain consumers. By entrusting high brands in this way, consumers will continue to be loyal to the Honda brand. No doubt until now this motorcycle brand is still in great demand by the public because of the quality and fuel economy. While other brands with similar type of product sales are still below the average sales of Honda motorcycles. Astra Honda Motor always increase sales by doing a variety of marketing strategies for example through tv ads that are as attractive as possible so that consumers more easily remember and believe more about this product will increase because they are confident with the quality of the product.  

7. Indifferent curve is a curve that can connect the point of a combination of goods and also describes something from goods consumed by consumers with benefits and satisfaction that can be consumed. The isoquant curves and indefference curves have the same characteristics in consumer behavior theory, Isoquant is a curve that can show a combination of two factors whose numbers produce the same product. In the world of the economy or the company must be many factors of production trying to produce a quality product in the same amount.

a). By doing a combination of 2 lines of isocost and isoquant line is dilakukakn in order to find and determine an optimal point. So at some point if something happens like a price change then automatically the isocost curve undergoes a rotating rotation. And the curve is back to parallel and this is a change in the ability of the budget.

b). In my opinion if the company can achieve economies of scale. Then it is possible to place a higher price for a product? Yes of course can. But, in here the company must calculate carefully for the results obtained in accordance desired. On an increasing economic scale is something that is already internal in the company. All companies must have competitors, especially having the same product production, so if we want to raise a market price then we must memastika that our products have good quality products so that customers will receive the price. For example when we want to buy something like mineral water and where we know that now so many who sell it, when we go to the supermarket we see there are brands  of mineral water like aqua, vit, ades and etc, then we automatically choose to buy aqua even though the price is more expensive due to brand aqua this is well known and has good water quality.

8. In my opinion Market is a strategy for business and society as a whole in doing marketing a product of company. Where in the absence of a market may be the business that we run will not survive and will not achieve the business goals of the company. So I think the company not able to get sustainable in the perfect market competition is a company that does not want to try and do not have new innovations by developing technology in order for get the profits. Where now all the companies in droves to create the latest innovations and technologies such as internet or social media so that people see and have a desire to find out the latest products from the company.

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