1. Managerial Economics consists of the use of economic model of thought to analyse business situation.
b. Joel Dean
2. The purpose of managerial economics is to show how economic analysis can be used in formulating business policies.
c. Milton and Siegelman
3. Managerial Economics is the integration of economic theory with business practice for the purpose of facilitating decision making and forward planning by management.
d. Edwin
4. Managerial Economics attempts to bridge the gap between the purely analytical problems that intrigue many economic theorists and the problems of policies that management must face.
