Managerial Economics, Ninth Edition

Managerial Economics, 9th Edition, introduces undergraduates, MBAs, and executives to the complex decision problems today’s managers face, providing the knowledge and analytical skills required to make informed decisions and prosper in the modern business environment. Going beyond the traditional academic approach to teaching economic analysis, this comprehensive textbook describes how practicing managers use various economic methods in the real world. Each in-depth chapter opens with a central managerial problem—challenging readers to consider and evaluate possible choices—and concludes by reviewing and analyzing the decision through the lens of the concepts introduced in the chapter.

Extensively updated throughout, the text makes use of numerous extended decision-making examples to discuss the foundational principles of managerial economics, illustrate key concepts, and strengthen students' critical thinking skills. A range of problems, building upon material covered in previous chapters, are applied to increasingly challenging applications as students advance through the text. Favoring practical skills development over complicated theoretical discussion, the book includes numerous mini-problems that reinforce students' quantitative understanding without overwhelming them with an excessive amount of mathematics.

CHAPTER 1 Introduction to Economic Decision Making 1

CHAPTER 2 Optimal Decisions Using Marginal Analysis 19

CHAPTER 3 Demand Analysis and Optimal Pricing 59

CHAPTER 4 Estimating and Forecasting Demand 100

CHAPTER 5 Production 146

CHAPTER 6 Cost Analysis 175

CHAPTER 7 Perfect Competition 214

CHAPTER 8 Monopoly 244

CHAPTER 9 Oligopoly 266

CHAPTER 10 Game Theory and Competitive Strategy 303

CHAPTER 11 Regulation, Public Goods, and Benefit-Cost Analysis 341

CHAPTER 12 The Economics of Non-profit Organizations 378

CHAPTER 13 Decision Making under Uncertainty 413

CHAPTER 14 The Value of Information 445

CHAPTER 15 Asymmetric Information and Organizational Design 475

CHAPTER 16 Bargaining and Negotiation 503

CHAPTER 17 Linear Programming

 Index 539

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