Managerial Economics A Mathematical Approach By M J Alhabeeb

Publisher: ECONOMICS

Availability: Out Of Stock
SKU: 46398
Number of Pages: 608

Rs.1,210.00

Rs.1,495.00

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Description
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Description

Managerial Economics: A Mathematical Approach by MJ Alhabeeb & LJ Moffitt provides an in-depth exploration of how mathematical techniques are used to solve complex managerial problems. This book bridges the gap between economic theory and practical decision-making, making it an essential resource for managers seeking to apply quantitative methods to business challenges. Through a variety of mathematical models and real-world examples, the book illustrates how to optimize business decisions and improve organizational performance.

Key Points:

1. Introduction to Managerial Economics
This section covers the fundamental principles of managerial economics, including its role in decision-making processes and its integration with mathematical methods.

2. Demand Analysis
Examines how mathematical models can be used to understand and predict consumer demand, including the use of elasticity and demand functions.

3. Production and Cost Analysis
Discusses the mathematical approaches to analyzing production processes and cost structures, helping managers make informed decisions about resource allocation and cost management.

4. Market Structures
Explores different market structures (e.g., perfect competition, monopoly, oligopoly) and how mathematical models can be used to analyze competitive behavior and pricing strategies.

5. Pricing Strategies
Focuses on mathematical techniques for setting optimal prices, including cost-plus pricing, value-based pricing, and dynamic pricing models.

6. Profit Maximization
Details the mathematical methods for determining the optimal output level and pricing to maximize profits, including marginal analysis and optimization techniques.

7. Risk and Uncertainty
Covers approaches for dealing with uncertainty and risk in managerial decision-making, including probability theory and decision analysis.

8. Game Theory
Introduces game theory and its application in strategic decision-making, such as competitive strategies and negotiation tactics.

9. Forecasting and Planning
Discusses methods for forecasting future business conditions and planning strategies using mathematical models and statistical techniques.

10. Quantitative Techniques in Decision-Making
Provides an overview of various quantitative techniques, such as linear programming and simulation, for making informed managerial decisions.

In conclusion, "Managerial Economics: A Mathematical Approach" offers a comprehensive guide to applying mathematical concepts to managerial problems. By integrating theory with practical applications, the book equips managers with the tools needed to make data-driven decisions and enhance organizational efficiency.

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