Managerial economics / Mark Hirschey, Eric Bentzen.

Include index.

Managerial Economics, fourteenth edition, will show you how to use quantitative methods and economic analysis alongside common sense to understand business and solve managerial problems such as which products to produce, what costs to consider, and how to set prices. Its unique integrative approach demonstrates that important business decisions are interdisciplinary and cannot be made in isolation; the text illustrates how different functions must work together for the business to succeed as a whole. A basic valuation model is constructed and used as the underlying economic model of the firm; each topic is then related to an element of the value maximization model. This process shows how management integrates accounting, finance, marketing, personnel, and production functions. The text also provides an intuitive guide to marginal analysis and basic functional relationships and will help you sharpen your economic intuition. The new edition has been updated to ensure the maths content is more rigorous and many of the Managerial Applications features have been rewritten or entirely replaced to be more relevant to European countries.