Chapter 1 su1

Chapter 1 Managers, Profits, and Markets

Managerial Economics & Theory ,[object Object],[object Object],[object Object],[object Object]

Economic Cost of Resources ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Total Economic Cost ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Economic Cost of Using Resources (Figure 1.1) + =

Types of Implicit Costs ,[object Object],[object Object],[object Object],[object Object]

Economic Profit versus Accounting Profit ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Maximizing the Value of a Firm ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Maximizing the Value of a Firm ,[object Object],[object Object],[object Object]

Separation of Ownership & Control ,[object Object],[object Object],[object Object],[object Object]

Price-Takers vs. Price-Setters ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

What is a Market? ,[object Object],[object Object],[object Object]

Market Structures ,[object Object],[object Object],[object Object],[object Object]

Perfect Competition ,[object Object],[object Object],[object Object]

Monopoly ,[object Object],[object Object],[object Object]

Monopolistic Competition ,[object Object],[object Object],[object Object]

Oligopoly ,[object Object],[object Object],[object Object]

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