Description
Cengage Learning Managerial Economics, 12Th Edition by Hirschey
The economic concepts presented in Managerial Economics, twelfth edition , show students how to use common sense to understand business and solve managerial problems. This innovative text helps students develop and sharpen their economic intuition, an invaluable skill that helps students, as future managers, decide which products to produce, costs to consider and prices to charge, as well as the best hiring policy and the most effective style of organization. With its unique integrative approach, the text presents the firm as a cohesive, unified organization and demonstrates that important business decisions are interdisciplinary. The text also provides an intuitive guide to marginal analysis and basic economic relations. Once students grasp the importance of marginal revenue and marginal costs, the process of economic optimization becomes intuitively obvious. In addition, a wide variety of examples and simple numerical problems vividly illustrate the application of managerial economics to a vast assortment of practical situations. They gain powerful tools that can help them become more successful and satisfied in their careers. Features: In every chapter, the text incorporates a variety of simple numerical examples and detailed practical illustrations of concepts. These features portray the valuable use and real-world applications of the material covered. Although the book contains calculus, the focus is on the economics not the mathematics of the managerial decision process. The text includes 380 new end-of-chapter questions and problems. Questions help students grasp basic concepts on an intuitive level and express understanding in a nonquantitative way. Problems illustrate the role of economic analysis from within a simple numerical framework. Self-test problems show students how economic tools and techniques can be used to solve practical business problems.