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Production Decisions

In: Managerial Discretion in Imperfect Markets

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  • T. V. S. Ramamohan Rao

    (Indian Institute of Technology Kanpur)

Abstract

One of the significant decisions of the management relates to the level of production. The concept of what constitutes the production level depends on the context. Similarly, the stock of capital of the firm or the expected market demand may be important in different situations. When a firm sells its products in geographically dispersed markets it would be prudent for them to fix prices apriori instead of allowing the prices to fluctuate on the basis of the market conditions that obtain. The possibility that the firm sells differentiated products necessitates that a firm structures non-price strategies to influence its market share. It is necessary to define managerial discretion in each of these contexts. None of the proposed measures can be considered as perfect.

Suggested Citation

  • T. V. S. Ramamohan Rao, 2023. "Production Decisions," Springer Books, in: Managerial Discretion in Imperfect Markets, chapter 0, pages 73-84, Springer.
    • Handle: RePEc:spr:sprchp:978-981-99-1537-8_4
    DOI: 10.1007/978-981-99-1537-8_4
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