Question

1. Managerial economics A. describes how pay for managers is set. B. ensures managers always make good decisions. C. helps managers make decisions in the face of scarcity. D. explains which products consumers will buy.

Answer 1

The correct answer is C

Step-by-step explanation:

Managerial economics is the term which is defined as the amalgamation of the theory of economic with the practices of the business in order to ease the decision making as well as future planning through management. This assist the managers of the business in the rational solution of problems faced in the activities of the firm.

The purpose or motive of the managerial economics is that to increase the decision making efficiency in order to increase the profit of the business. Therefor,e it is best defined as the one which helps the managers in taking decisions while in facing the scarcity.