MBA course in Managerial Economics. Prince Sultan University, Saudi Arabia. Chapter 1. microeconomics, decisions, decision-making, business decision-making, pricing power, monopoly, monopolist, differentiated product, branding, market structure, crude oil light-sweet crude oil, heavy-sour crude oil, profit maximization, economic profit, accounting profit, monetary cost, opportunity cost, equity, capital, sweat equity, normal profit, economic profit, accounting profit, productive, value creation, productivity.