Managerial Economics

The economic concepts presented in managerial economics, twelfth edition , show students how to use common sense to understand business and solve managerial problems. This innovative text helps students develop and sharpen their economic intuition, an 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. 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 economic