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Managerial Economics, 12th edition is designed to teach students the economic way of thinking about business decisions and strategy. Managerial Economics develops critical thinking skills and provides students with a logical way of analyzing both the routine decisions of managing daily operations of a business as well as the longer-run strategic plans that seek to manipulate the actions and reactions of rival firms. It is a self-contained textbook that requires no previous training in economics. The textbook carefully develops and applies the most useful concepts for business decision making and strategic planning.Salient Features:(a) Self-contained Empirical Analysis: Offers self-contained treatment of statistical estimation of demand, production, and cost functions(b) New Illustrations: Includes 5 new illustrations on topics such as Effects of Changes in Determinants of Supply, Diamonds are Forever – Entry Barriers are Not, etc.(c) Updated coverage in existing content: Includes additional discussion of topics such as separation of ownership and coverage of business, and existing illustrations across the chapters(d) Flexible Mathematical Rigour: Starts with only algebra and graph-reading skills, while all other analytical tools are developed within the text itself(e) Dual Sets of End-of-Chapter Questions: Provides both Technical Problems and Applied Problems(f) OLC: Comprehensive supplementary materials including Instructor’s Manual, PPTs, Test Bank, Online Appendices, Web Chapter, and Duplicate Technical Problems with Answers