Managerial Economics: Concepts and Principles (AGENCY/DISTRIBUTED) - Softcover

Donald N. Stengel (author)

Softcover

ISBN 10: 1606492195 ISBN 13: 9781606492192

Publisher: Business Expert Press, 2011

Synopsis

If you have good economic principles, then more than likely, you're making good business decisions. Although economics is sometimes dismissed as a discourse of practical relevance to only a relatively small circle of academicians and policy analysts who call themselves economists, sound economic reasoning benefits any manager of a business, whether they are involved with production and operations, marketing, finance, or corporate strategy. This highly respected text will help you and any business manager with managerial economics, which is the application of microeconomics to business decisions. Inside, you'll learn about the key relationships between price, quantity, cost, revenue, and profit, which are detailed for an individual firm in the form of simple conceptual models. The book includes key elements from the economics of consumer demand and the economics of production. It also discusses economic motivations for expanding a business and contributions from economics for improved organization of large firms, as well as market price-quantity equilibrium, competitive behavior, and the role of market structure on market equilibrium and competition. It concludes by considering market regulation in terms of the generic problems that create the need for regulation and possible remedies for those problems.

About this title

About the Author

Donald Stengel, Professor and Chair of the Department of Information Systems and Decision Sciences, California State University, Fresno, USA.

Edition details

• Publisher: Business Expert Press
• Publication date: 2011
• Language: English
• ISBN 10: 1606492195
• ISBN 13: 9781606492192
• Binding: Paperback
• Number of pages: 150