What is one lesson from this class that you think that you will be able to use in your career?

We learned Managerial Economics 5th edition

You can choose 1 topic and explain it.

Please explain 1 topic from the bottom list.

SECTION I SECTION II SECTION III SECTION IV SECTION II BRIEF CONTENTS Preface: Teaching Students to Solve Problems xlll Problem Solving and Decision Making 1 1 Introduction: What This Book Is About 3 2 The One Lesson of Business 15 3 Benets, Costs, and Decisions 25 4 Extent (How Much) Decisions 37 5 Investment Decisions: Look Ahead and Reason Back 49 Pricing, Costs, and Profits 65 6 Simple Pricing 67 7 Economies oi Scale and Scope 83 8 Understanding Markets and Industry Changes 95 9 Market Structure and Long-Run Equilibrium 113 10 Strategy: The Quest to Keep Prot from Eroding 125 11 Foreign Exohange,Trade. and Bubbles 137 Pricing for Greater Prot 151 12 More Realistic and Complex Pricing 153 13 Direct Price Discrimination 163 14 Indirect Price Discrimination 171 Strategic Decision Making 183 15 Strategic Games 185 16 Bargaining 205 Uncertainty 215 11 Making Decisions with Uncertainty 11.1]r 18 Auctions 233 19 The Problem of Adverse Selection 243 20 The Problem of Moral Hazard 255 vi BRIEF CONTENTS SECTION VI Organizational Design 267 21 Getting Employees to Work in the Firm's Best Interests 269 22 Getting Divisions to Work in the Firm's Best Interests 283 23 Managing Vertical Relationships 295 SECTION VII Wrapping Up 307 24 Test Yourself 309 Epilogue: Can Those Who Teach, Do? 315 Glossary 317 Index 325