Managerial Economics: Theory and Its Applications - Tapa dura

This text features an innovative approach to teaching managerial economics that is appropriate for both MBAs and junior/senior-level undergraduates. It uses direct quotes taken from contributors to "The Wall Street Journal", "Business Week" and "Barron's" to hold students' interest in the course topics by showing the relevance to real market situations. For the more mathematical and theoretical levels of the course, completely solved numerical examples based on numbers that resemble real market numbers (such as prices and quantities) have been included. The book introduces the student to the analysis of managerial decision-making by employing numerous examples that illustrate the economic principles which lead to the firm's managerial decisions in perfectly competitive markets, monopolies and various forms of oligopolies. Following the introductory chapters, "Production, demand and cost", the book presents a chapter that explains the concept of profit as the basis for management decision making. There is a special emphasis on price discrimination as a phenomenon frequently observed in real markets. Each chapter begins with a brief summary, and concludes with summarizing problems and their solutions. The book also contains over 1000 multiple-choice questions, with an answer key available at the back of the text. An instructor's manual is available to adopters.