Answer to Question #319005 in Microeconomics for tnt

Question

Why does the entire managerial economics revolve around what to produce, how to produce, and for whom to produce?

Answer 1

Answer.

The managerial economics revolve around what to produce by allocating its resources and choosing them from different goods that are available.In terms of how to produce they are forced to select from different production techniques. Finally, the point of to whom to produce is obtained by deciding who at the end would consume the products.