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why managerial economics is a fundamental academic subject which seeks to understand and analyse the problems of business decision making?

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Answered by 12020

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Siegelman, “Managerial economics is the integration of economic theory with business practice for the purpose of facilitating decision making up and forward planning by management”. Managerial economics is a fundamental academic subject which seeks to understand and to analyse the problems of business decision making.

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why managerial economics is a fundamental academic subject which seeks to understand and analyse the problems of business decision making?