The role of Managerial Economics has become all the more important today because of the increasingly competitive business world and the financial implications of many managerial decisions in such a scenario. This compact yet comprehensive book discusses the basic concepts and techniques of microeconomic analysis and their applications to managerial decision making with many useful and practical examples.

The text explains the basic concepts of the demand function and demand curve, the supply function and the supply curve, demand elasticities and their applications, techniques of demand estimation, and the theory of consumer behaviour. It also analyzes the theory of production, clarifies the nature of economic costs, and describes the profit maximizing tools of a business firm. Finally, the book describes standard pricing rules under different assumptions about the structure of the market in which the firm operates and examines certain pricing practices such as mark-up pricing and multiple products pricing.

CONTENTS
Preface
1. DEMAND-SUPPLY ANALYSIS
2. ELASTICITY AND ITS APPLICATIONS
3. DEMAND ANALYSIS, ESTIMATION AND FORECASTING
4. THEORY OF CONSUMER CHOICE
5. WELFARE ECONOMICS
6. PRODUCTION ANALYSIS OF THE FIRM
7. ANALYSIS OF COST OF PRODUCTION OF THE FIRM
8. PROFIT ANALYSIS OF THE FIRM
9. PERFECTLY COMPETITIVE MARKET
10. MONOPOLISTIC MARKET
11. MONOPOLISTIC COMPETITIVE MARKET
12. OLIGOPOLY MARKET
13. GAME THEORETIC APPROACHES TO OLIGOPOLY
14. PRICING PRACTICES
Index