Fundamentals of Managerial Economics

Fundamentals of Managerial Economics

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The economic concepts presented in FUNDAMENTAL OF MANAGERIAL ECONOMICS, 9e, show students how to use common sense to understand business and solve managerial problems without calculus. 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. 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. 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 FUNDAMENTALS OF MANAGERIAL ECONOMICS, 9e, 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 successful--and satisfied--in their careers. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.Multiplant concepts and tools discussed in this chapter, successful diseconomies of scale are cost disadvantages that ... Assume that 2 years ago, you purchased a new Jeep Wrangler SE 4WD with a soft top for $16, 500 using 5-yearanbsp;...

Title:Fundamentals of Managerial Economics
Author:Mark Hirschey
Publisher:Cengage Learning - 2008-02-20


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