Business managers in all organizations, both large and small, are tasked with making prudent...

Business managers in all organizations, both large and small, are tasked with making prudent decisions and designing strategies that will maximize profit, cut costs, enhance revenue, promote efficiency, and contribute to the firm’s overall goals and mission. In the midst of a multitude of facts, data, and statistics, what fundamental economic models and analytic methods can managers employ to make sense of how market forces affect opportunities and constraints?