Managerial economics is based on the principles of: PLEASE EXPLAIN A. Monetary economics B. Public sector economics C. Microeconomics D. Institutional economics E. None is correct
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- 1. What is Managerial Economics? 2. How does it relate to microeconomics?Managerial economics is defined as - Choose the best option) * a. a distinct field of economic theory. b. a field that applies economic theory and the tools of decision science. c. a field that combines economic theory and mathematics. O d. none of the above.Don't use AI Managerial economics involves the application of economic theory and decision science. a. True b. False
- The single most important element in managerial economics is the microeconomic theory of the firm. a. True b. FalseIn economics, what is the law of diminishing marginal returns? A. The tendency of firms to minimize production costs B. The observation that as additional units of a variable input are added to fixed inputs, the additional output diminishes C. The relationship between inflation and unemployment D. The impact of government regulation on business operationsWhat made adam smith the best economist? Give key points and pls explain each