Managerial Economics: Applications Of Microeconomics To Management

Application of microeconomic principles to management decision-making. The concepts of production transformation and cost of output; sales or revenue side of production; demand for product under different market structures and the implications for selling price. Overall application of the above to management decision-making: breakeven analysis, maximization of net income, markup pricing, target return pricing, advertising, estimation of market demand curves, and other case studies.