Managerial Economics

The Focus of This Book

The intent of this book is to familiarize the reader with the key concepts, terminology, and principles from managerial economics. After reading the text, you should have a richer appreciation of your environment—your customers, your suppliers, your competitors, and your regulators. You will learn principles that should improve your intuition and your managerial decisions. You will also be able to communicate more effectively with your colleagues and with expert consultants.

As with much of microeconomic theory, many of the economic principles in this book were originally derived with the help of mathematics and abstract models based on logic and algebra. In this book, the focus is on the insights gained from these principles, ...