Managerial Economics A Problem Solving Approach

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Teach your MBA students how to use economics to solve business problems with this breakthrough text.

This edition's succinct, fast-paced presentation and challenging, interactive applications place…

Managerial economics, meaning the application of economic methods in the managerial decision-making process, is a fundamental part of any business or management course.

As such, it bridges economic theory and economics in practice.

If there is a unifying theme that runs through most of managerial economics, it is the attempt to optimize business decisions given the firm's objectives and given constraints imposed by scarcity, for example through the use of operations research, mathematical programming, game theory for strategic decisions, At universities, the subject is taught primarily to advanced undergraduates and graduate business students. That is, it integrates many concepts from a wide variety of prerequisite courses.It helps the manager in decision-making and acts as a link between practice and theory.It is sometimes referred to as business economics and is a branch of economics that applies microeconomic analysis to decision methods of businesses or other management units.This textbook covers all the main aspects of managerial economics: the theory of the firm; demand theory and estimation; production and cost theory and estimation; market structure and pricing; game theory; investment analysis and government policy.It includes numerous and extensive case studies, as well as review questions and problem-solving sections at the end of each chapter.In many countries it is possible to read for a degree in Business Economics which often covers managerial economics, financial economics, game theory, business forecasting and industrial economics.Managerial economics to a certain degree is prescriptive in nature as it suggests course of action to a managerial problem.Managerial economics deals with the application of the economic concepts, theories, tools, and methodologies to solve practical problems in a business.In other words, managerial economics is the combination of economics theory and managerial theory..pass_color_to_child_links a.u-inline.u-margin-left--xs.u-margin-right--sm.u-padding-left--xs.u-padding-right--xs.u-relative.u-absolute.u-absolute--center.u-width--100.u-flex-inline.u-flex-align-self--center.u-flex-justify--between.u-serif-font-main--regular.js-wf-loaded .u-serif-font-main--regular.amp-page .u-serif-font-main--regular.u-border-radius--ellipse.u-hover-bg--black-transparent.web_page .u-hover-bg--black-transparent:hover. Content Header .feed_item_answer_user.js-wf-loaded .

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