Cadbury liqueur dan murphy's

SE — Froeb/McCann/Shor/Ward — Managerial Economics: A Problem Solving Approach, 5e ISBN-13: 978-1-337-10666-5 ©2018 Designer: Lumina Text & Cover printer: Quad Graphics Binding: Case Trim: 7.375 x 9.125 CMYK

F r o e b M c C a n n S h o r W a r dF r o e b M c C a n n S h o r W a r d

F r

o e

b •

M c

C a

n n

S h

o r

• W

a r

d

M a n age r ia l e C o n o M i C S

To register or access your online learning solution or purchase materials for your course, visit www.cengagebrain.com.

M a n age r ia l e C o n o M i C S

f i f t h e d i t i o n

a P r o B l e M S o lV i n g a P P r oaC h

f i f t h e d i t i o n

M a

n a

g e

r ia

l e

C o

n o

M iC

S a

P r

o B

l e

M S

o l

V in

g a

P P

r o

a C

h

a ProBleM SolVing aPProaCh

5 e

06665_cvr_ptg01_hires.indd 1 03/08/17 6:55 AM

Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203

cengage.com/mindtap

Fit your coursework into your hectic life. Make the most of your time by learning your way. Access the resources you need to succeed wherever, whenever.

Study with digital flashcards, listen to audio textbooks, and take quizzes.

Review your current course grade and compare your progress with your peers.

Get the free MindTap Mobile App and learn wherever you are.

Break Limitations. Create your own potential, and be unstoppable with MindTap.

MINDTAP. POWERED BY YOU.

06665_end02_ptg01_hires.indd 1 04/08/17 8:06 PM

Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203

Australia • Brazil • Mexico • Singapore • United Kingdom • United States

fifth edition

Managerial economics

A P R o B L e m s o LV i n G A P P Ro Ac h

luke M. Froeb Vanderbilt University

Mikhael Shor University of Connecticut

Brian T. McCann Vanderbilt University

Michael r. Ward University of Texas, Arlington

06665_fm_ptg01_i-xvi.indd 1 8/9/17 8:56 PM

Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203

© 2018, 2016 Cengage Learning®

Unless otherwise noted, all content is © Cengage

ALL RIGHTS RESERVED. No part of this work covered by the copyright herein may be reproduced or distributed in any form or by any means, except as permitted by U.S. copyright law, without the prior written permission of the copyright owner.

Library of Congress Control Number: 2017947785

ISBN: 978-1-337-10666-5

Cengage Learning 20 Channel Center Street Boston, MA 02210 USA

Cengage Learning is a leading provider of customized learning solutions with employees residing in nearly 40 different countries and sales in more than 125 countries around the world. Find your local representative at www.cengage.com.

Cengage Learning products are represented in Canada by Nelson Education, Ltd.

To learn more about Cengage Learning Solutions, visit www.cengage.com

Purchase any of our products at your local college store or at our preferred online store www.cengagebrain.com

Managerial Economics, Fifth Edition Luke M. Froeb, Brian T. McCann, Mikhael Shor, Michael R. Ward

Senior Vice President: Erin Joyner

Product Director: Jason Fremder

Product Manager: Christopher Rader

Content Developer: Molly Umbarger

Product Assistant: Denisse Zavala-Rosales

Marketing Manager: John Carey

Manufacturing Planner: Kevin Kluck

Sr. Art Director: Michelle Kunkler

Cover Image: Kamira/Shutterstock

Intellectual Property  Analyst: Jennifer Bowes  Project Manager: Carly Belcher

Art and Cover Direction, Production Management, and Composition: Lumina Datamatics, Inc

For product information and technology assistance, contact us at Cengage Learning Customer & Sales Support,

1-800-354-9706

For permission to use material from this text or product, submit all requests online at www.cengage.com/permissions

Further permissions questions can be emailed to permissionrequest@cengage.com

Printed in the United States of America Print Number: 01 Print Year: 2017

06665_fm_ptg01_i-xvi.indd 2 8/11/17 3:37 PM

Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203