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/ |
Contents
ListofIllustrations | |
Introduction to Managerial Economics | |
Elasticity | |
Supply | |
Market Equilibrium | |
Economic Efficiency | |
Costs | |
Monopoly | |
Answers to Selected Progress Check and Review Questions | |
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affect Airbus airlines atorvastatin average cost average variable cost best response function Boeing buyer surplus capacity Chapter choose COMAC complete price discrimination consider consumers customers cut price demand and supply demand curve direct segment discrimination economically efficient economies of scale elasticity of demand expenditure Explain externality fixed cost Hence higher income incremental margin percentage inelastic inputs Joy’s Jupiter longrun Luna Luna’s maintains price managerial economics manufacturers marginal benefit marginal cost marginal cost curve marginal revenue market demand market power market price maximize profit Mercury Mercury’s million monopoly moral hazard Nash equilibrium node ownprice elasticity party perfectly competitive price discrimination price elasticity production rate profit contribution PROGRESS CHECK provides quantity demanded quantity supplied reduce Referring to Figure relatively retail Saturn scale of production sell sheets a week shift short run sunk costs supply curve Suppose total cost total revenue unit