INDICE: CHAPTER 1 Introduction to Economic Decision Making 1SEVEN EXAMPLES OF MANAGERIAL DECISIONS 2SIX STEPS TO DECISION MAKING 7Step 1: Define the Problem 8Step 2: Determine the Objective 9Step 3: Explore the Alternatives 10Step 4: Predict the Consequences 12Step 5: Make a Choice 13Step 6: Perform Sensitivity Analysis 14PRIVATE AND PUBLIC DECISIONS: AN ECONOMIC VIEW 15THINGS TO COME18The Aim of This Book 20SECTION I: Decisions within Firms 26CHAPTER 2 Optimal Decisions Using Marginal Analysis 29Siting a Shopping Mall 30A SIMPLE MODEL OF THE FIRM 32A Microchip Manufacturer 33MARGINAL ANALYSIS 40Marginal Analysisand Calculus 43MARGINAL REVENUE AND MARGINAL COST 46Marginal Revenue 46Marginal Cost 48Profit Maximization Revisited 49SENSITIVITY ANALYSIS 51Asking What if 52APPENDIX TO CHAPTER 2: CALCULUSAND OPTIMIZATION TECHNIQUES 65SPECIAL APPENDIX TO CHAPTER 2: OPTIMIZATION USING SPREADSHEETS 76CHAPTER 3 Demand Analysis and Optimal Pricing 81DETERMINANTS OF DEMAND 82The Demand Function 82The Demand Curve and Shifting Demand 84General Determinants of Demand 86ELASTICITY OF DEMAND 90Price Elasticity 90Other Elasticities 94Price Elasticity and Prediction 96DEMAND ANALYSIS AND OPTIMAL PRICING 97Price Elasticity, Revenue, and Marginal Revenue 97Maximizing Revenue 100Optimal Markup Pricing 104Price Discrimination 108Information Goods 115APPENDIX TO CHAPTER 3: CONSUMER PREFERENCES AND DEMAND 123CHAPTER 4 Estimating and Forecasting Demand 135COLLECTING DATA 137Consumer Surveys 137Controlled Market Studies 142Uncontrolled Market Data 144REGRESSION ANALYSIS 146Ordinary Least-Squares Regression 146INTERPRETING REGRESSION STATISTICS 154Potential Problems in Regression 160Choosing a Regression Equation 164FORECASTINGTime-Series Models 175Fitting a Simple Trend 176Barometric Models 181Forecasting Performance 185Final Thoughts 195 APPENDIX TO CHAPTER 4:REGRESSION USING SPREADSHEETS 210SPECIAL APPENDIX TO CHAPTER 4: STATISTICAL TABLES 215CHAPTER 5 Production 217BASIC PRODUCTION CONCEPTS 218Production Technology 218PRODUCTION WITH ONE VARIABLE INPUT 220Short-Run and Long-Run Production 220Optimal Use of an Input 224PRODUCTION IN THE LONG RUN 226Returns to Scale 227Least-Cost Production 229MEASURING PRODUCTION FUNCTIONS 237Linear Production 237Production with Fixed Proportions 238Polynomial Functions 239The Cobb-Douglas Function 239Estimating Production Functions 241OTHER PRODUCTION DECISIONS 242Multiple Plants 243Multiple Products 245CHAPTER 6 Cost Analysis 257RELEVANT COSTS 258Opportunity Costs and Economic Profits 259Fixed and Sunk Costs 262Profit Maximization with Limited Capacity: Ordering a Best Seller 265THE COSTOF PRODUCTION 267Short-Run Costs 267Long-Run Costs 272RETURNS TO SCALE AND SCOPE 277Returns to Scale 277Economies of Scope 282COST ANALYSIS AND OPTIMAL DECISIONS 289A Single Product 289The Shut-Down Rule 291Multiple Products 293APPENDIX TO CHAPTER 6: TRANSFER PRICING 308SPECIAL APPENDIX TO CHAPTER 6: SHORT-RUNAND LONG-RUN COSTS 312SECTION II: Competing wi
- ISBN: 978-1-118-04158-1
- Editorial: John Wiley & Sons
- Encuadernacion: Cartoné
- Páginas: 784
- Fecha Publicación: 03/01/2012
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- Idioma: Inglés