How does managerial economics help a manager in achieving his organizational goals?

Question

How does managerial economics help a manager in achieving his organizational goals?

Answer 1

The goal of any organisation is to achieve maximum (Profits)efficiency with least amount of labour and investment.

The managerial economics is not a concrete science, since both management and economics are not and both subjects are highly flexible and are totally under human control. Both subjects, deal with the nature of human being.  In brief: Achieving the optimum output with least input, is the simple definition of this subject.