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Managerial economics involves applying economic theory to business decision making and planning. It differs from economics by focusing specifically on microeconomic problems faced within a business. Managerial economics helps managers understand factors that influence demand, costs, prices, and profits. It provides analytical tools for evaluating alternatives to maximize profit and reach organizational goals. Some key concepts covered include demand and its determinants, elasticity, forecasting techniques,

Author

Shaik Zubayr

Language

EN