Managerial Economics in a Global Economy / Edition 6

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The goal of this text is to provide a unifying framework for managerial decision-making around the theory of the firm. The text integrates traditional managerial coverage with modern management techniques and theory-all within the context of the global economic realities of international production and distribution. An abundance of case studies,illustrations,and examples enrich and extend the analysis. Coverage is expanded to include some of the latest developments in the field,including strategic behavior,the virtual corporation,reengineering,broadbanding,the learning corporation,and networking.
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Product Details

  • ISBN-13: 9780195307191
  • Publisher: Oxford University Press, USA
  • Publication date: 10/27/2006
  • Edition description: REV
  • Edition number: 6
  • Pages: 672
  • Product dimensions: 9.30 (w) x 7.50 (h) x 1.30 (d)

Meet the Author

Dominick Salvatore is Distinguished Professor of Economics and Business at Fordham University. He is consultant to the Economic Policy Institute (EPI) in Washington, D.C., The World Bank, the International Monetary Fund, the United Nations, and various central banks, multinational banks, and corporations. Dr. Salvatore is the author, coauthor, or editor of 51 books, including International Economics, Tenth Edition (2009), and Microeconomics: Theory and Applications, Fifth Edition (OUP, 2008).

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Table of Contents

Case Studies
Pt. 1 Introduction 1
Ch. 1 The Nature and Scope of Managerial Economics 3
Ch. 2 Optimization Techniques 27
Integrating Case Study One: The Decision to Invest in Wendy's Restaurants 64
Pt. 2 Demand Analysis 68
Ch. 3 Demand Theory 71
Appendix: Behind the Market Demand Curve - The Theory of Consumer Choice 111
Ch. 4 Demand Estimation 119
Ch. 5 Demand Forecasting 167
Appendix: Input-Output Forecasting 204
Integrating Case Study Two: Estimating and Forecasting the U.S. Demand for Electricity 214
Pt. 3 Production and Cost Analysis 218
Ch. 6 Production Theory and Estimation 221
Appendix: Production Analysis with Calculus 266
Ch. 7 Cost Theory and Estimation 271
Appendix: Cost Analysis with Calculus 314
Ch. 8 Linear Programming 319
Integrating Case Study Three: Production and Cost Functions in the Petroleum Industry, Duality, and Linear Programming 360
Pt. 4 Market Structure and Pricing Practices 364
Ch. 9 Market Structure: Perfect Competition and Monopoly 367
Appendix: Profit Maximization with Calculus 401
Ch. 10 Market Structure: Monopolistic Competition and Oligopoly 405
Appendix: Oligopoly Theory with Calculus 442
Ch. 11 Pricing Practices 451
Appendix: Third-Degree Price Discrimination with Calculus 492
Integrating Case Study Four: The Art of Devising Air Fares 496
Pt. 5 Regulation, Risk Analysis, and Capital Budgeting 500
Ch. 12 Regulation and Antitrust: The Role of Government in the Economy 508
Ch. 13 Risk Analysis 541
Ch. 14 Long-Run Investment Decisions: Capital Budgeting 585
Integrating Case Study Five: Regulation, Risk, Capital Budgeting, and the Price of International Telephone Calls 617
Appendixes 621
Appendix A: Compounding, Discounting, and Present Value 623
Appendix B: Interest Factor Tables 633
Appendix C: Statistical Tables 643
Appendix D: Answers to Selected (Asterisked) Problems 651
Glossary 695
Indexes 711
Name Index 713
Subject Index 716
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