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Applies microeconomic theory to business decision-making, emphasizing efficient use of resources to maximize profits. Considers aspects of the decision sciences as related to business problems while dealing with a profit-maximizing firm in private industry. Examines decision-making under risk and uncertainty, estimation and use of demand functions for forecasting, pricing of interrelated products, market entry strategy, and economic models of advertising.
Applies microeconomic theory to business decision-making, emphasizing efficient use of resources to maximize profits. Considers aspects of the decision sciences as related to business problems while dealing with a profit-maximizing firm in private industry. Examines decision-making under risk and uncertainty, estimation and use of demand functions for forecasting, pricing of interrelated products, market entry strategy, and economic models of advertising.
