Managerial economics provides a systematic and logical way of analyzing the business decisions and both day to day and long run planning decisions. Managerial Economics teaches students how to make superior business, not how to build models. These notes covers the syllabus of professional courses like MBA, C.A., I.C.W.A, I.C.S and M.Com. Since these notes are written mainly to meet the requirements of students preparing for exams, it covers the relevant and important aspects of both micro and macro- economic theories. These notes intend to explain in non-technical language, the economic concepts, tools of analysis and their relevance to business decision making, and also the influence of economic environment on business decisions.
Utility Analysis – Cardinal and Ordinal Concepts of Utility