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Managerial Economics with Student CD
Title: Managerial Economics Author: Christopher R Thomas, S. Charles Maurice Edition: 11th edition ISBN-13: 9781259071515 Format: Soft Cover / Paperback
746 pages, Hardcover
Published March 7, 2007
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Displaying 1 - 6 of 6 reviews
January 25, 2018
An okay book for some managerial economics even for those who have just started economics and have not really a good familiarity with the subject.
May 15, 2023
This is definitely a textbook that teaches and gives long lasting knowledge. If you already have a basic knowledge of microeconomics, then this textbook will solidify it. If not, then it combines microeconomics with decision making through the condensed introduction. Definitely recommended.
February 8, 2023
Managers who can best forecast future costs are likely to make the most profitable decisions.
As they plan for the future, business owners and managers make every effort to avoid undertaking operations or making strategic plans that will result in losses or negative profits. When managers foresee market conditions that will not generate enough total revenue to cover long-run total costs, they will plan to cease production in the long run and exit the industry by moving the firm’s resources to their best alternative use. Similarly, decisions to add new product lines or enter
new geographic markets will not be undertaken unless managers are reasonably sure that long-run costs can be paid from revenues generated by entering those new markets. Because the long-run viability of a firm—as well as the number of product lines and geographic markets a firm chooses—depends crucially on the likelihood of covering long-run costs, managers need to understand the various economic forces that can affect long-run costs. While some of these factors cannot be directly controlled by managers, the ability to predict costs in the long run requires an understanding of all forces, internal and external, that affect a firm’s long-run costs. Managers who can best forecast future costs are likely to make the most profitable decisions.
As they plan for the future, business owners and managers make every effort to avoid undertaking operations or making strategic plans that will result in losses or negative profits. When managers foresee market conditions that will not generate enough total revenue to cover long-run total costs, they will plan to cease production in the long run and exit the industry by moving the firm’s resources to their best alternative use. Similarly, decisions to add new product lines or enter
new geographic markets will not be undertaken unless managers are reasonably sure that long-run costs can be paid from revenues generated by entering those new markets. Because the long-run viability of a firm—as well as the number of product lines and geographic markets a firm chooses—depends crucially on the likelihood of covering long-run costs, managers need to understand the various economic forces that can affect long-run costs. While some of these factors cannot be directly controlled by managers, the ability to predict costs in the long run requires an understanding of all forces, internal and external, that affect a firm’s long-run costs. Managers who can best forecast future costs are likely to make the most profitable decisions.
July 8, 2017
Not enough white space, no completed scenarios at the end of the chapter, usage of acronyms after explaining it 1x remotely and written in complicated nonsensical language. Written by smart ppl who do not know how to teach! Reading this book gave me a headache.
July 26, 2019
Easy to read, but recommended to read together with calculus text book for deeper understanding.
August 14, 2010
I read this for grad school and it is a really interesting topic if you are interested in learning more about Economics. It's a text book but it was interesting and I liked for a text book.
Displaying 1 - 6 of 6 reviews