Publisher's Synopsis
Make smart decisions based on sound economic analysis!
Featuring a proven, problem–solving approach, Truett & Truett’s new Eighth Edition shows how to use economic analysis to make effective managerial decisions in today’s complex business environment. The text provides a clear, concise, and current description of the principles of microeconomic decision making, along with ample problems, examples, and cases that illustrate how to apply those principles in the real world.
New updated and revised, the Eighth Edition presents the latest thinking in the field including a new chapter on Games, Information, and Strategy, a new introduction featuring “10 principles of economics for managers,” which highlight the role of managerial economics in helping managers to make sound decisions, a revised discussion of linear demand curve and marginal revenue, updated real–world examples, and additional end–of–chapter questions and problems.
Additional highlights:
- Numerical examples identify the steps that you must rake to solve specific types of problems, including elasticity calculations, cost mini mization, profit maximization, present value, and more.
- Managerial Perspectives boxes provide high–interest, current examples of how real–world firms have addressed issues and economic problems discussed in the text.
- Extended International Capsules present a global perspective of managerial economics as it is applied in the international marketplace.
- Integrating Cases challenge you to use what you’ve learned in making smart decisions on complex issues.
- End–of–chapter problems provide a wide range of exercises that will help you enhance your ability to apply the techniques presented in the chapters.
