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- Managerial economics is the best application of management and economics. It explains the relationship between managerial procedures and economic approaches. Aside from that, the most important aspect of the subject is decision-making, which involves selecting the best answer from among the options available to researchers.
- The basic rule is to make the best use of limited resources. The highest returns are guaranteed by the best determination. In other words, managerial economics encompasses all economic approaches, concepts, and methods that are influenced by managerial procedures.
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