It does not include the basic economic tools of managerial economics
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Tools Used in Managerial Economics
- Opportunity Cost Principle. The Opportunity Cost Principle is concerned with the cost of the next best alternative of the good we are buying or opting for. ...
- Incremental Principle. ...
- Principle of Time Perspective. ...
- Discounting Principle. ...
- Equi-Marginal Principle.
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