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 Peterson
ISBN-10:
1606495127
ISBN-13:
9781606495124
Pub. Date:
06/13/2013
Publisher:
Business Expert Press
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 Peterson
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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 R. Marburger is professor of economics at Arizona 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 also has three years of experience as a marketing analyst for a Fortune 500 company. He has taught managerial economics at the MBA level for more than 20 years, and has published over 20 scholarly articles in journals such as Industrial and Labor Relations Review, Southern Economic Journal, Economic Inquiry, Managerial and Decision Economics, and the Journal of Economic Education.
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