Managerial Economics For Dummies

Learn to:

• Make sense of complicated business concepts
• Improve your critical thinking skills
• Apply managerial economics to make sound managerial decisions

The easy way to make sense of managerial economics

Does the study of managerial economics make your head spin? Relax! This hands-on, friendly guide helps you make sense of complex business concepts and explains to you in plain English how managerial economics enhances analytical skills, aids in problem-solving, and assists rational decision making. If you're enrolled in business courses or a manager already in the corporate world looking for a refresher, Managerial Economics For Dummies has you covered.

• Managerial Economics 101 — get an easy-to-understand intro to fundamental aspects of managerial economics and the theory of price determination
• Whose side are you on? — make sense out of the relationship between price and quantity to understand why consumers are willing to purchase more at lower prices (and how business owners can influence that relationship)
• Know your rivals — find out how to determine price in situations ranging from an extremely large number of rivals (perfect competition) to no rivals (monopoly)
• Risky business — discover how to execute your mission and maximize profit in a world of risk and uncertainty

Open the book and find:

• Tips to increase profit
• Input vs. output and production costs vs. supply
• The lowdown on price discrimination
• Techniques to help you balance your profit goals with the goals of your employees
• Managerial mistakes (and how to avoid them)
• Critical concepts you'll want to remember