• Applying Managerial Economics to Business Decisions

  • Nov 21 2024
  • Length: 31 mins
  • Podcast

Applying Managerial Economics to Business Decisions

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  • Summary

  • The hosts discuss managerial economics, focusing on applying microeconomic principles to business decisions. The first segment emphasizes profit maximization through marginal analysis, the time value of money, and understanding market forces like Porter's Five Forces. The second segment provides a broader introduction, covering concepts like market structures (competitive, non-competitive, imperfect), vertical and horizontal boundaries of firms, and the importance of distinguishing between marginal and average values, as well as stocks and flows. Today's show aims to equip managers with tools for effective resource allocation and strategic decision-making.

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