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Another important concept in managerial economics is the analysis of demand and supply. Demand refers to the quantity of a good or service that consumers are willing and able to buy at a given price. Supply refers to the quantity of a good or service that producers are willing and able to produce at a given price. The intersection of demand and supply curves determines the market equilibrium price and quantity.

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Managerial Economics and Strategy , authors Jeffrey M. Perloff Another important concept in managerial economics is the

Save your "strategy" for your final exam, not for trying to outsmart a publisher's copyright lawyer. Another important concept in managerial economics is the