Packed with managerially oriented applications, MANAGERIAL ECONOMICS, 12th edition illustrates how managers apply theories and techniques to solve real-world problems while teaching future business leaders how to think analytically and make better decisions. Extremely user friendly, the text caters to a variety of learning styles as it presents key analytical concepts in several ways, including tabular analysis, graphical analysis, and algebraic analysis. Students learn in a format with which they are comfortable, making difficult material more accessible and easier to understand. The new 12th edition is concise, current, and cutting edge with an exciting and extremely relevant new focus on "green" businesses and business developments in the examples and applications. The seasoned author team balances traditional neoclassical micro theory with extensive coverage of the latest analytical tools in managerial economics, such as game-theoretic tactics, information economics, and organizational architecture.
Table of Contents
PART I. INTRODUCTION.
1. Introduction and Goals of the Firm.
2. Fundamental Economic Concepts.
2A. Differential Calculus Techniques in Management.
PART II. DEMAND AND FORECASTING.
3. Demand Analysis.
4. Estimating Demand.
4A. Problems in Applying the Linear Regression Model.
5. Business and Economic Forecasting.
6. Managing in the Global Economy.
PART III. PRODUCTION AND COST.
7. Production Economics.
7A. Maximization of Production Output Subject to a Cost Constraint.
8. Cost Analysis.
8A. Long-Run Costs with a Cobb-Douglas Production Function.
9. Applications of Cost Theory.
PART IV. PRICING AND OUTPUT DECISIONS: STRATEGY AND TACTICS.
10. Prices, Output, & Strategy: Pure and Monopolistic Competition.
11. Price and Output Determination: Monopoly and Dominant Firms.
12. Price and Output Determination: Oligopoly.
13. Game-Theoretic Rivalry: Best-Practice Tactics.
13A. Entry Deterrence and Accommodation Games.
14. Pricing Techniques and Analysis.
14A. Revenue Management.
PART V. ORGANIZATIONAL ARCHITECTURE AND REGULATION OF BUSINESS.
15. Contracting, Governance, and Organizational Form.
15A. Auction Design and Information.
16. Government Regulation.
17. Long-Term Investment Analysis.
Appendix A. The Time Value of Money.
Appendix B. Tables.
Check Answers to Selected End-of-Chapter Exercises.
Web Appendix A: Consumer Choice Using Indifference Curve Analysis
Web Appendix B: International Parity Conditions.
Web Appendix C: Production Decisions and Linear Programming.
Web Appendix D:Capacity Planning and Pricing against a Low-Cost Competitor: A Case Study.
Web Appendix E: Pricing of Joint Products and Transfer Pricing.
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