______ to provide effective ways of making about business decision problems
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Managerial Economics uses application of the Economics, Statistics and Mathematics
Explanation:
- Managerial economics is the one which deals with the application of the methodologies, economic concepts, tools and theories in order to solve the practical problems in the business.
- In short it is the combination of the theory of the economics as well as the theory of managerial and it helps the manager in the decision making and will act as a link among the theory and practice.
- Therefore, the managerial economics uses the application of the mathematics, economics and statistics in order to provide the effective methods of making the business decision problems.
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