Managerial Economics

Truett and Truett's Eighth Edition shows how to use economic analysis to solve problems and make effective decisions in the complex world of business. The highly successful problem-solving approach, clear and accurate presentation of economic theory, and outstanding cases combine to make the best presentation of managerial economics yet. Walks readers step by step through specific types of problems, including elasticity calculations, cost minimization, and profit maximization. Shows how real-world firms have addressed issues discussed in the book. Emphasizes the global aspects of managerial economics and its application in the international marketplace.

Part 1 The Firm and Its Environment 1 Introduction, Basic Principles, and Methodology 1 2 Revenue of the Firm 33 3 Demand Analysis and Estimation 98 4 Economic Forecasting 142 Part 2 Production, Cost, and Profit Maximization 5 Production Analysis 176 6 Cost of Production 220 7 Profit Analysis of the Firm 279 Part 3 Markets and The Behavior of The Firm 8 Perfect Competition and Monopoly: the Limiting Cases 346 9 Monopolistic Competition and Oligopoly 375 10 Games, Information, and Strategy 419 11 Topics in Pricing and Profit Analysis 451 12 Factor Markets and Profit-Maximizing Employment of Variable Inputs 514 Part 4 Analysis of Project Decisions 13 Fundamentals of Project Evaluation 553 14 Risk in Project Analysis 585 Part 5 The Firm and The Public Sector 15 Economics of Public Sector Decisions 623 16 Legal and Regulatory Environment of the Firm 652