managerial economics

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Managerial Economics

Definition: Managerial Economics is the study of economic theories, principles, and techniques that are applied to managerial decision-making. It combines economic theories with business practices to provide insight and analytical tools for making informed decisions in the corporate world.

Example Sentences:

Understanding managerial economics helps managers make effective decisions for their organizations.
In the course of studying managerial economics, students analyze various business scenarios to develop critical thinking skills.
Managerial economics plays a crucial role in determining the optimal pricing strategy for a company in order to maximize profits.
By incorporating managerial economics principles, the company was able to identify cost-saving opportunities and improve its overall efficiency.

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