MANAGERIAL ECONOMICS, 12TH EDN

The economic concepts presented in
MANAGERIAL ECONOMICS, 12e , show students how to use common sense to
understand business and solve managerial problems. This innovative text helps
students develop and sharpen their economic intuitionan invaluable skill that
helps students, as future managers, decide which products to produce, costs
to consider, and prices to charge, as well as the best hiring policy and the
most effective style of organization. With its unique integrative approach,
the text presents the firm as a cohesive, unified organization and
demonstrates that important business decisions are interdisciplinary. 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
modela 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. Once
students grasp the importance of marginal revenue and marginal costs, the
process of economic optimization becomes intuitively obvious. In addition, a
wide variety of examples and simple numerical problems vividly illustrate the
application of managerial economics to a vast assortment of practical
situations. By studying the material in MANAGERIAL ECONOMICS, 12e, those
seeking to further their business careers learn how to more effectively
collect, organize, and analyze information. They gain powerful tools that can
help them become more successfuland satisfiedin their careers.