Economic Decision Making Using Cost Data

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Economic Decision Making Using Cost Data

A Guide for Managers


This eBook includes

Formats : PDF (Read Only)

Pages : 140

ISBN : 9781606495124

Language : English

About the Book

Book description

A firm maximizes profits if each decision adds more to the firm’s revenue than to its costs. Although the concept sounds rather simple, it is difficult to do in practice. To ease this difficulty, the authors are giving you the inside knowledge to “economic theory.” This book will help you understand economic theory and much more to accurately infer changes in revenues that may be associated with a decision. And since economic theory suggests that the costs reported by accountants rarely reflect the true cost associated with the decision, this book will help you understand how to assess the changes in revenues and costs. Demand and price sensitivity analysis allow you to infer revenue changes, and this book helps you reconcile the economic theory of cost with common accounting practices so the differences can be reconciled and better decisions can be made.

Economic Decision Making Using Cost Data

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Business Expert Press

Since 2008, Business Expert Press has been providing business students and professionals with precise, business information written by experts in their fields. Available in both print and eBook formats, our books can be obtained by consumers through a variety of sources including direct purchase on our website and major online bookstores. Business librarians can purchase our entire Digital Library, published and updated annually, in total, or in various configurations such as topical e-collections or custom bundles, through perpetual access or subscription.


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