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Principles of Managerial Economics

Principles of ManagerialEconomicsThis work is licensed under a Creative Commons-NonCommercial-ShareAlike International LicenseOriginal source:The Saylor 1 Introduction to Managerial What Is Managerial Economics ?.. Why Managerial Economics Is Relevant for Managerial Economics Is Applicable to Different Types of The Focus of This How to Read This 2 Key Measures and A Simple Business Revenue, Cost, and economic Versus Accounting Measures of Cost and Revenue, Cost, and Profit Breakeven The Impact of Price Marginal The Conclusion for Our The Shutdown A Final Word on Business 3 Demand and Theory of the Is the Theory of the Consumer Realistic?.. Determinants of Modeling Consumer Forecasting Elasticity of Consumption Decisions in the Short Run and the Long Price 4 Cost and Average Cost Long-Run Average Cost and Economies of Scope and Joint Cost Approach Versus Resource Approach to Production Marginal Revenue Product and Derived Marginal Cost of Inputs and economic Productivity and the Learning 5 Economics of Reasons to Expand an Classifying Business Expansion in Terms of Value Horizontal Vertical Alternatives to Vertical Transaction Costs and Boundaries of the Cost Centers Versus Profit Transfer Employee Manager Motivation and Executive 6 Mar

includes any business, nonprofit organization, or administrative unit. The second definition establishes that economics is at the core of what managers of these organizations do. This book presents economic concepts and principles from the perspective of “managerial economics,” which is a subfield of economics that places

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