Managerial Economics

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Focusing on the application of microeconomics to business decision-making, this text emphasizes the importance of economic principles for managers across various functions. It presents key relationships among price, quantity, cost, revenue, and profit through simple models, while exploring consumer demand, production economics, and market dynamics. The book also addresses the motivations for business expansion, organizational strategies for large firms, and the need for market regulation. With a focus on concepts over complex mathematics, it enhances understanding of business and market functions.