Managerial economics can best be defined as the:
A)analysis of the leadership styles of managers in an organization.
B)study of economic incentives on consumer behavior and demand.
C)analysis of the labor market through the behavior of workers and managers.
D)analysis of major management decisions using economic tools.
E)study of the strategic interaction between firms in a market.

Question

Quizplus · Accepted Answer

Managerial economics is the application of economic principles and tools to the analysis and solution of managerial decision-making problems. It involves the use of economic theories, concepts, and techniques to analyze business situations and solve managerial problems. Therefore, the correct definition of managerial economics is the analysis of major management decisions using economic tools.

Managerial Economics Can Best Be Defined as The