Dryden Press/Harcourt Brace College Publishers, 1999 - Business & Economics - 864 pages
Managerial Economics, 3E focuses on optimal decision making and profit maximization from a real-world managerial perspective. All analysis of managerial decisions is motivated by real-world applications and examples. The text is designed for use in both undergraduate economics and MBA courses.
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Introduction to Economic Decision Making
Decisions within Firms
Demand Analysis and Optimal Pricing
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action additional advertising agreement airline analysis average cost bargaining benefit bidders buyer cash flows chance Chapter coefficient competition competitors consider constraints consumer consumer surplus decision maker decision tree decision variables demand curve denotes dollar drilling earn economic efficient elasticity English auction entry equal equation equilibrium estimate example expected profit expected value Figure firm firm's optimal forecasts function graph incentive increase indifference curve industry inputs instance investment labor level of output long-run lower manager marginal cost marginal profit marginal revenue markup maximize method million monopolist monopoly MRPL negotiations offer oligopoly optimal price outcome payoff percent player predicted present value price discrimination prisoner's dilemma probability problem profit-maximizing quantity regression result returns to scale risk sell seller shadow price spreadsheet strategy Suppose Table tion total cost total profit units utility workers zero