Author Description

The new edition of the best-selling managerial economics textbook, extensively updated to reflect current examples, data, and research Now in its tenth edition, Managerial Economics introduces the complex decision problems facing today’s managers, equipping undergraduates, MBAs, and executives with the economic knowledge and analytical skills required to solve these problems. Going beyond the traditional academic approach to teaching economic analysis, this comprehensive textbook favors practical examples and skills rather than theoretical treatments, illustrating how managers use various economic methods in the modern business environment. Designed to strengthen critical thinking skills, each chapter opens with a central managerial problem that challenges readers to consider and evaluate possible choices and concludes with a detailed review and analysis of the decision using the concepts introduced in the chapter. Numerous decision-making examples, mini-cases, end-of-chapter problems, and real-world applications reinforce students’ quantitative understanding without overwhelming them with an excessive amount of mathematics. New to this Edition: New coverage of responses to the medical and economic risks posed by the Covid-19 pandemic, advances in Artificial Intelligence (AI), and the disruptive impact on the PGA tour caused by the rival LIV golf tour funded by Saudi Arabia New section on how a nationwide seller can optimally site an e-commerce distribution center New discussion of current topics, such as how Taylor Swift changed the negotiation playing field in creating and distributing the movie of her 2023 Eras Tour New examples of actual managerial behavior and practice based on the latest economics and decision analysis research New and updated end-of-chapter problems, references, discussion questions, and internet links Wiley Advantage: Presents an applica