Explain how managerial economics can be applied

Reference no: EM133219740

Question: One of your colleagues Lily has learned that you are taking Managerial Economics at Lewis. Lily has never learned economics and is curious about Managerial Economics.

Explain to Lily what Managerial Economics is.
Why do you think Managers need to learn Managerial Economics?

Give one business setting in which you believe Managerial Economics is applicable. Explain how Managerial Economics can be applied to make a difference. Your score is based on your explanation. Explain as clearly as you can.

Reference no: EM133219740

Questions Cloud

Discuss the importance of obtaining a review of systems : Discuss the importance of obtaining a review of systems. Provide one or two examples of its application in the clinical setting.

What is the purpose for what you eat is your business : What is the purpose for What You Eat is Your Business by Radley Balko? What would be a good question to ask Balko to help me understand better or know more

What external factors can directly impact internal factors : You are a pizza store manager in Surrey with 7 employees working for you. what external factors can directly impact internal factors

Why inflammatory markers rise in std : Why Inflammatory Markers Rise in STD/PID? Pls include reference. Thanks!

Explain how managerial economics can be applied : Explain how Managerial Economics can be applied to make a difference. Your score is based on your explanation. Explain as clearly as you can

Greater vancouver community services society : 1. What are the vision, values and mission statement of this healthcare organization?

Discuss globalization as you understand it now : Explain in some detail what determines the level of economic development of a nation. Please use chapter 3 of the text to help you through this question

What role does culture play on managers : What role does culture play on managers in global situations. For example, a US firm in Saudi Arabia, Indonesia, Singapore or Germany

Long history of depression : A 53-year-old woman with a long history of depression was admitted to the hospital because of agitation, insomnia, and tremors. She had been taking fluoxetine,

User Account

All Pages