Managerial Economics

activity level advertising alternative analysis average costs Calculate capital budgeting cash flows coefficient competitors constant constraint cost curve cost function customers decrease demand curve determine dollars dual economic profits efficient elasticity of demand equal equation equilibrium estimated expected firm firm's fixed costs forecast given graph Hardcastle & McCormick income increase Incremental independent variables isocost isoquants labor long-run managerial decision managerial economics managers marginal cost marginal product marginal revenue market structure method minimum monopolistically competitive monopoly net present value oligopoly operating opportunity cost output level P₂ percentage change perfectly competitive present value price discrimination price elasticity price/output combination primal problem profit contribution profit maximizing Q₂ quantity demanded rate of return regression regulation relevant requires returns to scale risk short-run slack variables slope SOLUTION standard errors supply curve total cost total revenue units utility variable costs zero