Economics LO1 Summarize how goals, constraints, incentives, and market rivalry affect economic decisions

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Economics LO1 Summarize how goals, constraints, incentives, and market rivalry affect economic decisions . LO2 Distinguish economic versus accounting profits and costs. LO3 Explain the role of profits in a market economy. LO4 Apply the five forces framework to analyze the sustainability of an industry’s profits. LO5 Apply present value analysis to make decisions and value assets. LO6 Apply marginal analysis to determine the optimal level of a managerial control variable. LO7 Identify and apply six principles of effective managerial decision making.

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