Managerial economics : foundations of business analysis and strategy

Abstract

Twelfth edition. Revised edition of Managerial economics, 2013. Helps to develop critical thinking skills and provides students with a logical way of analysing both the routine decisions of managing the daily operations of a business as well as the longer-run strategic plans that seek to manipulate the actions and reactions of rival firms. Managers, profits, and markets -- Demand, supply, and market equilibrium -- Marginal analysis for optimal decisions --Basic estimation techniques -- Theory of consumer behavior -- Online appendix 1: Substitution and income effects of a price change -- Elasticity and demand -- Demand estimation and forecasting -- Online appendix 2: Estimating and forecasting industry demand for price-taking firms -- Production and cost in the short run -- Production and cost in the long run -- Production and cost estimation -- Online appendix 3: Linear programming -- Managerial decisions in competitive markets -- Managerial decisions for firms with market power -- Strategic decision making in oligopoly markets -- Advanced pricing techniques -- Online appendix 4: Pricing multiple products related in production -- Decisions under risk and uncertainty -- Government regulation of business -- Web chapter 1: The investment decision -- Appendix: Statistical tables.