Managerial Economics

Uncertainty is present in every managerial decision, andManagerial Economics: A Mathematical Approach effectivelydemonstrates the application of higher-level statistical tools toinform and clarify the logic of problem solving in a managerialenvironment.While illuminating managerial decision-making from all possibleangles, this book equips readers with the tools and skills neededto recognize and address uncertainty. The book also exploresindividual, firm, and market-level decisions; discusses allpossible risks and uncertainties encountered in the decision-makingprocess; and prepares readers to deal with both epistemic andaleatory uncertainty in managerial decisions. ManagerialEconomics features:* An emphasis on practical application through real-lifeexamples and problems* An accessible writing style that presents technicaltheories in a user-friendly way* A mathematical and statistical point of view thatreveals the presence of uncertainty inherent in managerialdecisions* Thoroughly class-tested material including problems atthe end of each chapter, case study questions, review exercises,and objectives that summarize the main discussionsManagerial Economics is an excellent book forupper-undergraduate and graduate-level courses in business andeconomics departments. The book is also an ideal reference andresource for managers, decision makers, market analysts, andresearchers who require information about the theoretical andquantitative aspects of the topic.