Managerial Economics

One of the features of this text is a running case study that traces the decision-making processes of a single firm. It creates a business setting for coverage of microeconomic theory and the tools of quantitative analysis used in management decision- making. Each chapter begins with a problem confronting the management of Global Foods, a hypothetical corporation competing in the soft drink industry. With this case situation as a backdrop, students should grasp how economic principles developed throughout the chapter relate to everyday business activity. In addition, actual business examples from the popular press - including many international examples - are incorporated within chapters to reinforce the connection between economic concepts and business problems. The new edition incorporates business examples from the popular press, and includes a chapter on international applications. First-hand reports by real business managers, describe their international business experiences and the ways in which understanding economics has helped them in their jobs.