Managerial Economics: An Overview of Paul Keat's Fifth Edition Ebook
Managerial economics is a branch of economics that applies economic methods and principles to business decision-making and problem-solving. It helps managers to optimize the use of scarce resources, such as capital, labor, and materials, and to achieve the goals of the organization. Managerial economics also analyzes the external factors that affect the business environment, such as market structure, demand, supply, competition, regulation, and policy.
managerial economics paul keat 5th edition ebook.rar
One of the popular textbooks on managerial economics is Managerial Economics by Paul Keat, Philip Young, and Steve Erfle. The fifth edition of this ebook was published in 2013 by Pearson Education. It covers various topics in managerial economics, such as demand analysis, production and cost analysis, pricing decisions, market structure and strategy, risk analysis, capital budgeting, and international business. The ebook also features Excel applications that allow readers to create dynamic illustrations of the concepts and models presented in the text.
The ebook is intended for undergraduate and MBA students in economics and business, as well as for current and aspiring industry professionals who want to learn how to apply economic theory to practical situations. The ebook provides a comprehensive and rigorous treatment of managerial economics, while maintaining a clear and accessible style. The ebook also includes numerous examples, exercises, case studies, and end-of-chapter questions to enhance learning and understanding.
Managerial Economics by Paul Keat et al. is a valuable resource for anyone who wants to learn more about the economic aspects of business management. It offers a solid foundation for further study and research in managerial economics and related fields.One of the chapters in the ebook is Chapter 3: Demand Analysis. This chapter explains how to measure and forecast the demand for a product or service, using various methods and techniques. The chapter also discusses the factors that influence demand, such as price, income, tastes, preferences, expectations, and substitutes. The chapter introduces the concepts of elasticity of demand, which measures the responsiveness of demand to changes in these factors.
The chapter begins with a review of the basic demand function, which shows the relationship between quantity demanded and price, holding other factors constant. The chapter then explains how to estimate the demand function using regression analysis, which involves finding the best-fitting line that represents the data. The chapter also shows how to use Excel to perform regression analysis and interpret the results.
The chapter then moves on to discuss the concept of elasticity of demand, which is a measure of how much quantity demanded changes when one of the factors affecting demand changes. The chapter covers different types of elasticity, such as price elasticity, income elasticity, cross elasticity, and advertising elasticity. The chapter explains how to calculate and interpret these elasticities using formulas and Excel applications.
The chapter also covers some special topics in demand analysis, such as peak-load pricing, price discrimination, and bundling. These topics illustrate how managers can use demand analysis to design optimal pricing strategies for different market segments and situations.
The chapter concludes with a summary of the main points and a list of key terms. It also provides some review questions and problems for students to test their understanding and apply their knowledge. 29c81ba772