This text focuses on the economic theory that is relevant to business decision making, examines business practice in the light of this theory and gives recent examples of business practice. Subjects covered include decision making, demand and cost theory and estimation, pricing models and practices, advertising, quality choices and capital budgeting. This new edition features "empirical cases" which require the student to analyze business situations using real data. Other new additions include many end-of-chapter problems and short cases and coverage of recent advances in economics that are valuable in the study of managerial economics.
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