Managerial Economics

Managerial Economics deals with five important problem areas in which economic analysis has much to contribute-demand production and cost analysis, pricing, application of linear programming and capital budgeting. It is a unique book in the sense that every chapter on the concepts and tools of analysis has corresponding case studies drawn form a variety of industries, which will be of immense help to students in understanding the real life applications of managerial economics and to gain some practice of problem solving at the firm level. Understanding the determinants of demand and the skills of market forecasting, the concept of relevant costs, and price discrimination are among the topics covered. It also describes how optimization problems can be analysis within the framework of linear programming and how capital budgeting is employed for the long-term allocation of resources.