Which of the following is the best definition of managerial economics? Managerial economics is
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.
D) None of the above is correct.

Question

Quizplus · Accepted Answer

Managerial economics applies economic theory and the tools of decision science to examine how an organization can achieve its aims or objectives most efficiently. It is essentially a blend of economic theory and the analytical tools of decision making.

Which of the Following Is the Best Definition of Managerial