The economic concepts presented in Managerial Economics show
students how to use common sense to understand business and solve
managerial problems. This innovative text helps students sharpen
their economic intuition. With its unique integrative approach, the
text demonstrates that important business decisions are
interdisciplinary, illustrating how different functions work
together. A basic valuation model is constructed and used as the
underlying economic model of the firm. Each topic is then related
to an element of the value maximization model--a process that shows
how management integrates accounting, finance, marketing,
personnel, and production functions. The text also provides an
intuitive guide to marginal analysis and basic economic relations.
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