Managerial economics
Subtitle: concepts and principles
By: Donald N. Stengel
Edition: 1st ed.
Series: Managerial economics collection; Managerial economics collection
Publisher: Business Expert Press
Published: 2011
Place of publication: New York
Language: eng
Number of pages: 151
ISBN-13: 9781606492192; 9781606492208
Subjects: Managerial economics
Description: "Along with enhancing decision making, the field of economics provides a common language and framework for comprehending and communicating phenomena that occur within a business, as well as between a business and its environment. This text addresses the core of a subject commonly called managerial economics, which is the application of microeconomics to business decisions. Key relationships between price, quantity, cost, revenue, and profit for an individual firm are presented in form of simple conceptual models.  The text also includes key elements from the economics of consumer demand and the economics of production. The book discusses economic motivations for expanding a business and contributions from economics for improved organization of large firms. Market price quantity equilibrium, competitive behavior, and the role of market structure on market equilibrium and competition are addressed. Finally, the text considers market regulation in terms of the generic problems that create the need for regulation and possible remedies for those problems.  Although the academic literature of managerial economics often employs abstract mathematics and large corporations create and use sophisticated mathematical models that apply economics, this book focuses on concepts, terminology, and principles, with minimal use of mathematics"--Publisher's website.
Notes: Includes bibliographical references (p. [147]-148) and index.
Table of contents: title: Introduction to managerial economics; title: Key measures and relationships; title: Demand and pricing; title: Cost and production; title: Economics of organization; title: Market equilibrium and the perfect competition model; title: Firm competition and market structure; title: Market regulation.