Chapter 1
1. Gregorowicz and Hegji (1998).
2. For a more thorough critique of the managerial economics curriculum, see Marburger (2011).
Chapter 2
1. As the firm expands its capacity, some of these factors will vary with output.
2. We are going to set aside the obvious conflict of interest that the teens might prefer to take their time so as to increase their individual earnings. Suppose the objective was to pay for a trip to Hawaii.
3. Many persons who have had a course in microeconomics may recall the rule that a firm maximizes its profits at the output level where MR = MC. In fact, this is the graphical representation of a firm that produces every unit for which MR > MC and no unit where MC > MR.
4. Porter (1979).
Chapter 3
1. The ...
Get How Strong Is Your Firm’s Competitive Advantage? now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
