Costs, and Decisions in Managerial Economics:( two-page paper )

1.  what you thought was the most important in concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.  Define and describe what you thought was worthy of your understanding?

2.  why you felt it was important, how you will use it, and/or how important it is in managerial economics.