Managerial Economics and Other Disciplines
Managerial Economics and Other Disciplines Managerial Economics is closely related to other disciplines and frequently impinges upon their fields. Managerial Economics and Economics Micro economics is also known as ‘partial equilibrium analysis deals with the problems of individuals, firms and industries and is the main source of inspiration to Managerial Economics. Concepts like elasticity, marginal revenue, Marginal cost and models like Price leadership, kinked demand curve, and Price discrimination are made use of in Managerial Economics. Macro economics aids Managerial Economics in the area of forecasting. The aggregates of the economic system such as Gross National Product, General Price Index and Level of Employment serve as a useful guide for devising relevant business policies. Managerial Economics and Statistics Statistics provides many tools Managerial Economics. It is high...