Managerial Economics: Analysis Problems Cases
- 8.
- New Delhi Wiley India Pvt Ltd 2022
- xxvii,620 p. PB 28x21.7 cm.
The contents of this Adapted Edition have been restructured and enhanced to include more recent knowledge and to fit the Indian context. Based on the suggestions from readers of the earlier editions, the text has been extensively updated throughout, with some latest decision-making examples to discuss the foundational principles of managerial economics and strengthen students’ critical thinking skills. TABLE OF CONTENTS Part 1 The Firm and Its Environment 1 Introduction, Basic Principles and Methodology 1.1 Managerial Decisions and Principles in Today’s Economy 1.2 Economists and the Application of Managerial Economics 1.3 O1.4 Organization of this Book 1.5 Review of Basic Demand and Supply Analysis 1.6 Carryover to Analysis of Other Markets 2 Revenue of the Firm 2.1 Advertising, Consumer Demand and Business Research 2.2 Demand and Revenue Concepts 2.3 Determinants of Demand 2.4 A Note on Determinants of Supply 2.5 Elasticity of Demand 3 Demand Analysis and Estimation 3.1 Market Surveys 3.2 Demand Estimation with Regression Analysis 3.3 Market Experiments 4 Economic Forecasting 4.1 Types of Economic Forecasts 4.2 Two Major Kinds of Data 4.3 Factors Affecting Economic Variables 4.4 Forecasting Methods 4.5 Accuracy of Forecasts
Part 2 Production, Cost and Profit Maximization 5 Production Analysis 5.1 The Production Function and the Long Run 5.2 Product Curves and The Short Run 6 Cost of Production 6.1 Types of Costs 6.2 Costs in the Long Run 6.3 Costs in the Short Run 6.4 Relationship of Short-Run Cost Curves to Short-Run Product Curves 6.5 Relation of Short-Run to Long-Run Average Costs 6.6 The Learning Effect 6.7 Economies of Scope 6.8 Choosing the Optimal Plant Size: An Example 6.9 Estimation of Cost 7 Profit Analysis of the Firm 7.1 Profit Maximization 7.2 Shutdown Point 7.3 Breakeven Analysis 7.4 Profit Maximization Versus Breakeven Analysis 7.5 Incremental Profit Analysis 7.6 Producer’s Surplus
Part 3 Markets and The Behavior of The Firm 8 Perfect Competition and Monopoly: The Limiting Cases 8.1 Perfect Competition and Its Setting 8.2 Monopoly and Its Setting 9 Monopolistic Competition and Oligopoly 9.1 Monopolistic Competition: A Case of Many Firms 9.2 Duopoly: An Oligopoly with Two Firms 9.3 The Question of Entry 9.4 The Kinked Oligopoly Demand Curve: 9.5 Tacit Collusion and Price Leadership 9.6 Perfect Collusion—The Cartel 9.7 Production with Multiple Plants 9.8 Product Market Structures: Recap and Comparison 10 Games, Information, and Strategy 10.1 Strategy and Types of Games 10.2 Some Game Theory Examples 10.3 Multiple Equilibria, Sequencing and First-Mover Advantage 10.4 Cooperative Games 10.5 Repeated Games 10.6 Trees and Sequential Games 10.7 Decision Making and the Economics of Information 10.8 Moral Hazard 10.9 Signaling 11 Topics in Pricing and Profit Analysis 11.1 Markup Pricing 11.2 Decisions Involving Multiple Products 11.3 Price Discrimination 11.4 Two-Part Pricing (Access Fees) 11.5 Bundling 11.6 Alternatives to Profit Maximization 12 Factor Markets and Profit-Maximizing 12.1 Profit-Maximizing Employment of One Variable Input 12.2 Determination of Equilibrium Prices for Inputs: Perfect Competition in the Input Market 12.3 Determination of Equilibrium Prices for Inputs: Monopsony in the Input Market 12.4 Determination of Equilibrium Prices for Inputs: Bilateral Monopoly in the Input Market
Part 4 Analysis of Project Decisions 13 Fundamentals of Project Evaluation 13.1 Capital Budgeting and Project Analysis 13.2 Costs in New Undertakings 13.3 Stream of Receipts or Returns 13.4 A Simple Capital Project Analysis 13.5 Project Yield or Rate of Return 13.6 Project Ranking in Capital Budgeting Analysis 13.7 Cost of Capital and the Discount Rate 14 Risk in Project Analysis 14.1 Certainty Versus Risk 14.2 Risk in Economic Analysis 14.3 Risk-Return Indifference Curves 14.4 Probability and Uncertainty 14.5 Application of Probability Analysis to Risk 14.6 Evaluating Risky Streams of Receipts 14.7 Probability Approach to Multiple Project Alternatives 14.8 Acceptable Shortcuts to Risk Analysis 14.9 Externalities and their Nature
Part 5 The Firm and The Public Sector 15 Economics of Public Sector Decisions 15.1 Micro- Versus Macroeconomics in Public Sector Analysis 15.2 The Public Sector’s Product 15.3 Resource Allocation and the Supply of Public Goods 15.4 Cost-Benefit Analysis: A Procedural Outline 15.5 Public Investment and the Discount Rate 15.6 Cost-Benefit Analysis and Divergent Public Objectives 15.7 Pitfalls of Cost-Benefit Analysis 15.8 The Future of Cost-Benefit Analysis 16 Legal and Regulatory Environment of the Firm 16.1 Managers and the Law 16.2 Types of Law Affecting the Firm 16.3 Antitrust and Business Practices Laws 16.4 Administrative Agencies and the Law 16.5 The Regulated Industries 16.6 Whose Interests do Regulators Serve? 16.7 Regulation of “Unregulated Industries” 16.8 Laws, Regulations, and ahe Firm’s Strategy 16.9 Recent Impactful Regulatory Issues from Around the World