Managerial EconomicsThe new fifth edition of Managerial Economics is an ideal text for any course focusing on the practical application of micro-economic principles to management. It includes fresh up-to-date discussion questions from all over the world and is enhanced with detailed instructor supplements. The book is a popular, useful choice for managers learning economics. An accompanying website, featuring a wealth of supplementary material, is available at https://sites.google.com/site/pngecon/ |
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advertising affect airlines asymmetry average cost average variable cost best response function Boeing buyer surplus capacity choose COMAC consider consumers contrast customers cut price demand curve economically efficient level economies of scale elasticity of demand expenditure Explain externality fixed cost Hence higher holdup incentive income incremental margin percentage indirect segment discrimination inelastic input investment Joy’s Jupiter long-run Luna Luna’s maintains price manufacturers marginal benefit marginal benefit equals marginal cost marginal revenue market demand market power market price market supply maximize profit Mercury Mercury’s million monopoly moral hazard Nash equilibrium network effects node outsourcing own-price elasticity party price discrimination price elasticity production rate PROGRESS CHECK provides quantity demanded reduce Referring to Figure relatively retail salesperson Saturn scale of production sell seller sheets a week shift short run Source sunk costs supply curve Suppose tanker total cost total revenue units users