Nội dung

www.downloadslide.com www.downloadslide.com MANAGERIAL ECONOMICS Copyright 201 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. www.downloadslide.com Copyright 201 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. www.downloadslide.com MANAGERIAL ECONOMICS APPLICATIONS, STRATEGY, and TACTICS 13e JAMES R. McGUIGAN JRM Investments R. CHARLES MOYER University of Louisville FREDERICK H. deB. HARRIS School of Business Wake Forest University Australia • Brazil • Mexico • Singapore • United Kingdom • United States Copyright 201 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. www.downloadslide.com This is an electronic version of the print textbook. Due to electronic rights restrictions, some third party content may be suppressed. Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. The publisher reserves the right to remove content from this title at any time if subsequent rights restrictions require it. For valuable information on pricing, previous editions, changes to current editions, and alternate formats, please visit www.cengage.com/highered to search by ISBN#, author, title, or keyword for materials in your areas of interest. Copyright 201 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. www.downloadslide.com Managerial Economics: Applications, Strategy, and Tactics, 13th Edition James R. McGuigan, R. Charles Moyer, and Frederick H. deB. Harris Senior Vice President, LRS/Acquisitions & Solutions Planning: Jack W. Calhoun Editorial Director, Business & Economics: Erin Joyner © 2014, 2011 Cengage Learning ALL RIGHTS RESERVED. No part of this work covered by the copyright herein may be reproduced, transmitted, stored, or used in any form or by any means graphic, electronic, or mechanical, including but not limited to photocopying, recording, scanning, digitizing, taping, Web distribution, information networks, or information storage and retrieval systems, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without the prior written permission of the publisher. Editor-in-Chief: Joe Sabatino Senior Acquisition Editor: Steven Scoble Developmental Editor: Ted Knight For product information and technology assistance, contact us at Cengage Learning Customer & Sales Support, 1-800-354-9706. Editorial Assistant: Elizabeth Beiting-Lipps For permission to use material from this text or product, submit all requests online at www.cengage.com/permissions Further permissions questions can be emailed to permissionrequest@cengage.com Brand Manager: Robin Lefevre Brand Management Director: Jason Sakos Marketing Development Manager: John Carey Marketing Development Director: Lisa Lysne Art and Cover Direction, Production Management, and Composition: PreMediaGlobal Media Editor: Anita Verma Rights Acquisition Director: Audrey Pettengill Rights Acquisition Specialist, Text and Image: John Hill Senior Manufacturing Planner: Kevin Kluck Cover Image(s): Airplane: © iStockphoto/Maciej Noskowski GEnx Jet Engine (Turbofan): © Olga Besnard/Shutterstock.com Equipment, Cables and Piping as Found Inside of Industrial Power Plant: © nostal6ie/Shutterstock New Gas Pipelines: © CDuschinger/Shutterstock Three Legged Oil and Gas Production Platform: © James Jones Jr/Shutterstock.com Oil Rig: © Dariush M./Shutterstock.com Car Production Line: © iStockphoto/Rainer Plendl Lexus ES300h Hybrid: © Ritu Manoj Jethani/Shutterstock.com Internal Image(s): Library of Congress Control Number: 2013935706 ISBN-13: 978-1-285-42092-9 ISBN-10: 1-285-42092-6 Cengage Learning 200 First Stamford Place, 4th Floor Stamford, CT 06902 USA Cengage Learning is a leading provider of customized learning solutions with office locations around the globe, including Singapore, the United Kingdom, Australia, Mexico, Brazil, and Japan. Locate your local office at: www.cengage.com/global Cengage Learning products are represented in Canada by Nelson Education, Ltd. To learn more about Cengage Learning Solutions, visit www.cengage.com Purchase any of our products at your local college store or at our preferred online store www.cengagebrain.com Part Opener: © Nostal6ie/Shutterstock.com Chapter Opener: © CDuschinger/Shutterstock.com 2 Abstract Backgrounds with Arrows: © Anastasiya Zalevska/Shutterstock.com Cover Design with Copy Space: © Vladfoto/Shutterstock.com Recycled and Reflective Icon: © Russelltatedotcom/iStockphotos.com Printed in the United States of America 1 2 3 4 5 6 7 17 16 15 14 13 Copyright 201 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. www.downloadslide.com To my family J.R.M. To Sally, Laura, and Craig R.C.M. To my family and Ken Elzinga F.H.B.H. Copyright 201 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. www.downloadslide.com Copyright 201 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. www.downloadslide.com Brief Table of Contents 13 Best-Practice Tactics: Game Theory 13A Entry Deterrence and Accommodation Games 14 Pricing Techniques and Analysis 14A The Practice of Revenue Management Preface xix About the Authors xxiii PART I INTRODUCTION 1 Introduction and Goals of the Firm 2 Fundamental Economic Concepts 1 2 28 PART II 3 4 4A 5 6 6A DEMAND AND FORECASTING Demand Analysis Estimating Demand Problems in Applying the Linear Regression Model Business and Economic Forecasting Managing in the Global Economy Foreign Exchange Risk Management 127 139 176 230 PART III 7 7A 8 9 PRODUCTION AND COST Production Economics Production Economics of Renewable and Exhaustible Natural Resources, Advanced Material Cost Analysis Applications of Cost Theory 233 234 270 280 305 PRICING AND OUTPUT DECISIONS: STRATEGY AND TACTICS 10 Prices, Output, and Strategy: Pure and Monopolistic Competition 11 Price and Output Determination: Monopoly and Dominant Firms 12 Price and Output Determination: Oligopoly 15A 16 17 A 331 332 E F G 382 H 409 ORGANIZATIONAL ARCHITECTURE AND REGULATION Contracting, Governance, and Organizational Form Auction Design and Information Economics Government Regulation Long-Term Investment Analysis APPENDICES A The Time Value of Money B Differential Calculus Techniques in Management C Tables D Check Answers to Selected End-of-Chapter Exercises Glossary Index Notes B C D PART IV 489 500 535 PART V 15 63 64 99 444 547 548 583 611 648 A-1 B-1 C-1 D-1 G-1 I-1 WEB APPENDICES Consumer Choice Using Indifference Curve Analysis International Parity Conditions Linear-Programming Applications Capacity Planning and Pricing against a Low-Cost Competitor: A Case Study of Piedmont Airlines and People Express Pricing of Joint Products and Transfer Pricing Decisions under Risk and Uncertainty Maximization of Production Output Subject to a Cost Constraint, Advanced Material Long-Run Costs with a Cobb-Douglas Production Function, Advanced Material vii Copyright 201 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. www.downloadslide.com Copyright 201 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.