Analytic models for managerial and engineering economics
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Analytic models for managerial and engineering economics

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Published by Reinhold Pub. Corp. in New York .
Written in English

Subjects:

  • Industrial management -- Mathematical models.

Book details:

Edition Notes

Bibliography: p. 471.

Statement[by] Herbert E. Schweyer.
SeriesReinhold industrial engineering and management sciences textbook series
Classifications
LC ClassificationsHD38 .S37
The Physical Object
Paginationxiii, 505 p.
Number of Pages505
ID Numbers
Open LibraryOL5913739M
LC Control Number64015941
OCLC/WorldCa321884

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managerial economics is an applied specialty of this branch. Macroeconomics deals with the performance, structure, and behavior of an economy as a whole. Managerial economics applies microeconomic theories and techniques to management decisions. It is more limited in scope as compared to Size: 1MB. Concept of engineering economics 4 Engineering efficiency 4 Economic efficiency 5 Scope of engineering economics 5 Marginal cost 7 Marginal revenue 7 Sunk cost 7 Opportunity cost 8 Break-even analysis 8 P\V . Other chapters in this book have demonstrated the wide range of marketing problems and the various analytic approaches implemented in decision models to address those problems. We will elaborate on some of those applications, but our main focus here is on how to make those models relevant and useful in by: 8. Managerial Economics has evolved out of Microeconomics to provide guidance for business managers who must make decisions in an environment of risk and uncertainty. It integrates into economics a variety of concepts from accounting, finance and marketing, and utlizes concepts and tools from statistics, particularly in the estimation of demand /5(11).

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