explain the role of business in marginal economis
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The overall role of managerial economics is to increase the efficiency of decision making in businesses to increase profit. ... Assists the management in the decisions pertaining to internal functioning of a firm such as changes in price, investment plans, type of goods /services to be produced, inputs to be used, etc.
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A managerial economist helps the management by using his analytical skills and highly developed techniques in solving complex issues of successful decision-making and future advanced planning. ... The overall role of managerial economics is to increase the efficiency of decision making in businesses to increase profit
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