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For upper-level undergraduate and first-year MBA courses in managerial and applied economics. This text will excite readers by providing a more linear progression, while proving the consistency and relevance of microeconomic theory.    To strengthen students’ ability to use Excel—a critical skill in today’s job market—new Excel Applications (Excel Apps) allow readers to turn the static figures and tables in the text into dynamic illustrations.  The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you'll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed.

Managerial Economics Global Edition

• Contents


• Preface


• About the Authors


• Chapter 1 Introduction


• Introduction: Economics and Managerial Decision Making


• A Brief Review of Important Economic Terms and Concepts


• The Case of Global Foods, Inc.: Situations and Solutions


• Summary of the Situations and Solutions


• Global Application: The BRIC Countries


• Summary


• Important Concepts


• Questions


• Chapter 2 The Firm and Its Goals


• Introduction


• The Firm


• Coase and the Internet


• The Economic Goal of the Firm and Optimal Decision Making


• Goals Other Than Profit


• Economic Goals


• Noneconomic Objectives


• Do Companies Really Try to Maximize Profits?


• Profit Maximization, Restated


• Maximizing the Wealth of Stockholders


• Market Value Added and Economic Value Added


• Economic Profits


• Global Application


• Summary


• Important Concepts


• Questions


• Chapter 3 Supply and Demand


• Introduction


• Market Demand


• Market Supply


• Market Equilibrium


• Comparative Statics Analysis


• Short-Run Market Changes: The ?Rationing Function? of Price


• Long-Run Market Analysis: The ?Guiding? or ?Allocating Function? of Price


• Using Supply and Demand in Forecasting


• Supply, Demand, and Price: The Managerial Challenge


• Global Application: The Bric Countries and the Supply and Demand for Oil


• Summary


• Important Concepts


• Questions


• Problems


• Appendix 3A The Mathematics of Supply and Demand


• Chapter 4 Demand Elasticity


• The Economic Concept of Elasticity


• The Price Elasticity of Demand


• Measureme