Managerial Economics A Mathematical Approach 1st Edition by MJ Alhabeeb, LJ Moffitt ISBN 9781118091364 1118091361

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ISBN 10: 1118091361
ISBN 13: 9781118091364
Author: MJ Alhabeeb, LJ Moffitt

Uncertainty is present in every managerial decision, and __Managerial Economics: A Mathematical Approach__ effectively demonstrates the application of higher-level statistical tools to inform and clarify the logic of problem solving in a managerial environment.While illuminating managerial decision-making from all possible angles, this book equips readers with the tools and skills needed to recognize and address uncertainty. The book also explores individual, firm, and market-level decisions; discusses all possible risks and uncertainties encountered in the decision-making process; and prepares readers to deal with both epistemic and aleatory uncertainty in managerial decisions. __Managerial Economics__ features:
• An emphasis on practical application through real-life examples and problems
• An accessible writing style that presents technical theories in a user-friendly way
• A mathematical and statistical point of view that reveals the presence of uncertainty inherent in managerial decisions
• Thoroughly class-tested material including problems at the end of each chapter, case study questions, review exercises, and objectives that summarize the main discussions
__Managerial Economics__ is an excellent book for upper-undergraduate and graduate-level courses in business and economics departments. The book is also an ideal reference and resource for managers, decision makers, market analysts, and researchers who require information about the theoretical and quantitative aspects of the topic.

Managerial Economics A Mathematical Approach 1st Edition Table of contents:

Part I: Introduction to Managerial Economics

1. Introduction to Managerial Economics
   1.1. Definition and Scope of Managerial Economics
   1.2. The Role of Economics in Decision Making
   1.3. The Relationship Between Microeconomics and Managerial Economics
   1.4. Overview of Mathematical Tools for Managerial Economics

2. The Managerial Decision-Making Process
   2.1. Decision-Making Under Uncertainty
   2.2. Marginal Analysis in Decision Making
   2.3. Optimization Methods in Managerial Economics
   2.4. The Role of Information in Economic Decisions

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Part II: The Theory of Consumer Behavior

3. Consumer Preferences and Utility Theory
   3.1. Utility Functions and Indifference Curves
   3.2. The Law of Diminishing Marginal Utility
   3.3. Budget Constraints and Consumer Choice
   3.4. Mathematical Modeling of Consumer Preferences

4. Demand Analysis
   4.1. The Demand Curve and Its Derivation
   4.2. Price Elasticity of Demand
   4.3. Cross-Price and Income Elasticities
   4.4. Estimation of Demand Functions

5. Intertemporal Choice and Discounting
   5.1. Time Preferences and Discounting
   5.2. The Role of Discount Rates in Investment Decisions
   5.3. Mathematical Models of Intertemporal Choice

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Part III: Production and Cost Analysis

6. The Theory of Production
   6.1. Production Functions: Types and Characteristics
   6.2. Isoquants and Isocost Curves
   6.3. The Law of Diminishing Returns
   6.4. The Optimization of Inputs in Production

7. Cost Functions and Analysis
   7.1. Short-Run and Long-Run Cost Functions
   7.2. Economies of Scale and Scope
   7.3. Marginal Cost, Average Cost, and Total Cost
   7.4. Cost Minimization and Profit Maximization

8. Technological Change and Innovation
   8.1. Impact of Technological Advancements on Production
   8.2. Measuring Productivity and Efficiency
   8.3. The Role of Innovation in Managerial Economics

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Part IV: Market Structures and Pricing Strategies

9. Perfect Competition
   9.1. Characteristics of Perfect Competition
   9.2. Equilibrium in Perfectly Competitive Markets
   9.3. Profit Maximization in Perfect Competition
   9.4. Mathematical Analysis of Competitive Markets

10. Monopoly and Market Power
    10.1. The Theory of Monopoly Pricing
    10.2. Pricing and Output Decisions Under Monopoly
    10.3. Price Discrimination
    10.4. Mathematical Models of Monopoly Behavior

11. Monopolistic Competition and Oligopoly
    11.1. Characteristics of Monopolistic Competition
    11.2. Price and Output Decisions in Monopolistic Competition
    11.3. Oligopoly and Strategic Interdependence
    11.4. Game Theory and Oligopolistic Pricing Strategies

12. Pricing Strategies in Managerial Economics
    12.1. Cost-Based and Value-Based Pricing
    12.2. Dynamic Pricing Strategies
    12.3. Price Leadership and Collusion in Oligopolies
    12.4. Mathematical Approaches to Pricing Optimization

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Tags: MJ Alhabeeb, LJ Moffitt, Managerial Economics, Mathematical Approach