Managerial Economics Notes 126306 | Managerial Economics Lecture Notes

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Lecture notes Managerial Economics B ECON 300 Lucas Perin (lmperin@uw.edu) Managers, Profits, Markets Overall goal of managers: maximizing profits ( ) Accounting profits: Total Revenues – Explicit Costs Economic ...

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...Lecture notes managerial economics b econ lucas perin lmperin uw edu managers profits markets overall goal of maximizing accounting total revenues explicit costs economic implicit usually overstate but make sure you check the baseball example in book opportunity cost value next best foregone alternative not owner supplied resources purchased market taxes time manager leases forgone returns on s equity wages capital plant machinery equipment using owned structure characteristics that determine environment which a firm operates number and size firms refers to industry output degree product differentiation barriers entry high vs low no power is said have when it can raise price its without losing all sales taker take for their as given must charge same everyone else or demand will drop nearly zero taking faces perfectly elastic horizontal curve setter setting has some i e ability increasing downward sloping perfect competition monopolistic oligopoly monopoly large small few control one su...

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Posted on: 12 Oct 2022 | 2 years ago
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