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Key Measures and Relationships
內容大綱
Managerial Economics: Concepts and Principles, written by Donald N. Stengel of the California State University, Fresno, is an eight-chapter book published by Business Expert Press. The text addresses the core of 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 discussed, as are elements from the economics of consumer demand and production. The economics of organization, market price, quantity equilibrium, competitive behavior, and the role of market structure in market equilibrium and competition are addressed. Finally, the text considers market regulation in terms of generic problems that create the need for regulation, as well as possible remedies for those problems. Chapter 2 explores the key measures and economic relationships of a business operation. Revenue, cost, and profit functions are discussed, as are the differences between economic and accounting measures of cost and profit. Breakeven analysis, the effects of price changes, the relationship between supply and demand, marginal analysis, and the principles of the shutdown rule, are also explained.