How economic theory is basis to managerial economics?
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The Theory of Decision Making: The theoryof decision making has relevance and significance to managerial economics. Much of economic theory is based on two assumptions: (1) Individuals and firms strive toward a single goal maximum utility for the individual and maximum profit for the firm.
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The Theory of Decision Making: The theory of decision making has relevance and significance to managerial economics. Much of economic theory is based on two assumptions: (1) Individuals and firms strive toward a single goal maximum utility for the individual and maximum profit for the firm..
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