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Managerial Economics is a field of study which is expanding each and every day.
So curating an assignment on this subject is not more a cup of the tea for most scholars.
The way economic analysis and theories can be used towards solving business problems, constitutes the subject matter of Managerial Economics.
According to Mc Nair and Meriam, "Managerial Economics consists of the use of economic modes of thought to analyze business situation." Spencer and Siegelman have defined Managerial Economics as "The integration of economic theory with business practice for the purpose of facilitating decision making and forward planning by management." According to Haynes, Mote and Paul, “Managerial Economics is economics applied in decision making.
This subject primarily employs different tools for mathematics to describe the correlation between various entities.
Another crucial aspect is about making the decision.
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