Managerial Economics UNIT-1
Managerial Economics UNIT-1 Lets start boiling water on our gas stove and getting our notes within minutes😌 Okay!! To get completely into the syllabus of this subject Managerial Economics lovably called as ECO😂 just come here 👉💌 Managerial economics "The application of economic theories to the problems of management is referred to as managerial economics." Which simply means that finding solutions to the problems of management with the help of economic theories, concepts and laws. The prime focus of managerial economics is to maximize the profit. Managerial Economics is also known as "Business economics" or "Economics for firms". Nature of managerial economics 1. It is microeconomic in nature because Managerial Economics is completely based on the concept of microeconomics. 2. Pragmatic because it avoids all the complex abstract issues of theories and involves practical problems from the end of ground reality. 3. Related to normative economics be...