ISBN-10:
1606495127
ISBN-13:
9781606495124
Pub. Date:
06/13/2013
Publisher:
Business Expert Press
Economic Decision Making Using Cost Data: A Guide for Managers

Economic Decision Making Using Cost Data: A Guide for Managers

by Daniel M. Marburger, Ryan PetersonDaniel M. Marburger

Hardcover

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Overview

A firm maximizes profits if each decision adds more to the firm's revenue than to its costs. Although the concept sounds rather simple, it is difficult to do in practice. To ease this difficulty, the authors are giving you the inside knowledge to "economic theory." This book will help you understand economic theory and much more to accurately infer changes in revenues that may be associated with a decision. And since economic theory suggests that the costs reported by accountants rarely reflect the true cost associated with the decision, this book will help you understand how to assess the changes in revenues and costs. Demand and price sensitivity analysis allow you to infer revenue changes, and this book helps you reconcile the economic theory of cost with common accounting practices so the differences can be reconciled and better decisions can be made.

Product Details

ISBN-13: 9781606495124
Publisher: Business Expert Press
Publication date: 06/13/2013
Series: Managerial Accounting
Edition description: New Edition
Pages: 140
Product dimensions: 6.00(w) x 9.00(h) x 0.30(d)

About the Author

Daniel Marburger is Professor of Economics at Arkansas State University. He has a BS in General Management from Purdue University, an MBA from the University of Cincinnati, and a PhD in economics from Arizona State University. He has taught managerial economics at the MBA level for more than 20 years. Throughout his academic career, he has published over 20 scholarly articles, and has won three awards for excellence in teaching.

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