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Book chapter
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Reference no. BEP0105
Chapter from: "Managerial Economics: Concepts and Principles"
Published by: Business Expert Press
Published in: 2011

Abstract

This chapter is excerpted from ‘Managerial Economics: Concepts and Principles'. This text addresses the core of a subject commonly called managerial economics, which is the application of microeconomics to business decisions. Key relationships between price, quantity, cost, revenue, and profit for an individual firm are presented in form of simple conceptual models.

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Abstract

This chapter is excerpted from ‘Managerial Economics: Concepts and Principles'. This text addresses the core of a subject commonly called managerial economics, which is the application of microeconomics to business decisions. Key relationships between price, quantity, cost, revenue, and profit for an individual firm are presented in form of simple conceptual models.

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