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25 January, 04:36

Managerial economics refers to the application of microeconomics to business decision making. True False

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  1. 25 January, 08:29
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    True

    Explanation:

    The term micro economics is the branch of economics that deals with behavior of individuals and firm in solving economic problems of scarcity and choice making.

    Managerial Economics is the use or application of economic theories and concept to solve problem in the business organisation. It is the process of managing internal organisational issues with the use of economics principles.

    Managerial economics uses theories in both micro and macro economics to solve the organisational problems and make decisions.
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