The book explores the core concepts of managerial economics and supplements them with relevant caselets, examples, and detailed case studies. Students will find the book highly useful for its coverage of key concepts of managerial economics. The revised edition aims to provide an application-oriented focus to the subject.New to this edition: Additional topics, such as multinational firms, and land and capital as factors of production, based on user feedback. Cases, such as demand and elasticity, and estimation of production function, which highlight important concepts. Three new appendices that cover the basics of functions, differential calculus, and discounting; linear programming; and constrained optimization.