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Economics For Manager by Johnes (Paperback, 1990)

The Cotswold Library (763455)

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About this product

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Managerial economics involves the application of both micro and macro-economic theories and methods to the decision-making problems faced by the management of firms. In addition to providing a grounding in economics, this book offres students a working knowledge of the tools of applied economics - emphasizing the importance of knowing what pattern of demand a firm faces, and how much of each of its products it can sell at any given price and at any given time. Geraint Johnes examines four major problems faced by firms - how they should combine available resources, both physical and human, to produce an optimum output, the precise relationship between the inputs and outputs of firms, the reaction of firms to risk and uncertainty and the ability of a firm to predict changes in the macro-economy.