5th edition by brooker - Study guides, Revision notes & Summaries

Managerial Economics in a Global Economy, 5th Edition By Dominick Salvatore All Chapters Complete (Presentation) The application of economic theory and the tools of decision science to examine how an organization can achieve its aims or objectives most efficiently. Managerial Decision Problems Economic theory Microeconomics Macroeconomics Decision Sciences Mathematical Economics Econometrics MANAGERIAL ECONOMICS Application of economic theory and decision science tools to solve man...

Managerial Economics in a Global Economy, 5th Edition By Dominick Salvatore All Chapters Complete (Presentation) Theory of the Firm • Combines and organizes resources for the purpose of producing goods and/or services for sale. • Internalizes transactions, reducing transactions costs. • Primary goal is to maximize the wealth or value of the firm. Value of the Firm The present value of all expected future profits Alternative Theories • Sales maximization – Adequate rate of p...

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