The yen- dollar exchange rate is not fully passed through in steel prices. Changes in Japanese steel prices lag six months behind changes in U.S. prices.

Includes articles on international business opportunities.

Is it appropriate for market analysts to use international agricultural prices as a proxy for domestic prices when domestic prices are unavailable? A firm yes.

Managerial Economics, 9th Edition, introduces undergraduates, MBAs, and executives to the complex decision problems today’s managers face, providing the knowledge and analytical skills required to make informed decisions and prosper in the modern business environment. Going beyond the traditional academic approach to teaching economic analysis, this comprehensive textbook describes how practicing managers use various economic methods in the real world. Each in-depth chapter opens with a central managerial problem—challenging readers to consider and evaluate possible choices—and concludes by reviewing and analyzing the decision through the lens of the concepts introduced in the chapter. Extensively updated throughout, the text makes use of numerous extended decision-making examples to discuss the foundational principles of managerial economics, illustrate key concepts, and strengthen students' critical thinking skills. A range of problems, building upon material covered in previous chapters, are applied to increasingly challenging applications as students advance through the text. Favoring practical skills development over complicated theoretical discussion, the book includes numerous mini-problems that reinforce students' quantitative understanding without overwhelming them with an excessive amount of mathematics.