Microeconomics: Theory and Applications with Calculus 5e 9781292359120
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For courses in microeconomics.
Revised applications and challenges illustrate the versatility of microeconomic theory
Updated - Solved Problems provide students with a step-by-step model for working out qualitative and quantitative problems using algebra and calculus. Students get the opportunity to practice the method modeled in a series of related exercises at the end of each chapter (744 exercises in total).Updated - Challenges combine an Application and a Solved Problem. Each chapter (excluding Chapter 1) begins with a Challenge, which discusses a real-world issue, and concludes with one or more questions based on that discussion. At the end of the chapter, a Challenge Solution answers these questions.Analysis of real-life problems and public policy changes ensure the text remains relevant and up-to-date
Updated - Real-World Examples use real people, companies, and data to illustrate basic microeconomic theory and provide students with a practical perspective that showcases the versatility of modern microeconomics.Updated - Extensive coverage of problems from resource economics, labor economics, international trade, public finance, and industrial organization analyzed using contemporary theories is included.Updated - What-If Policy Analysis sections use microeconomic models to probe the likely outcomes of changes in public policies. Students learn how to conduct what-if analyses of policies such as taxes, subsidies, barriers to entry, price floors and ceilings, quotas and tariffs, zoning, pollution controls, and licensing laws. The text analyzes the effects of taxes on virtually every type of market, as well as the limitations of applying economic theory to policy analysis.
Table of content
1.Introduction
2.Supply and Demand
3.A Consumer’s Constrained Choice
4.Demand
5.Consumer Welfare and Policy Analysis
6.Firms and Production
7.Costs
8.Competitive Firms and Markets
9.Properties and Applications of the Competitive Model
10.General Equilibrium and Economic Welfare
11.Monopoly and Monopsony
12.Pricing and Advertising
13.Game Theory
14.Oligopoly and Monopolistic Competition
15.Factor Markets
16.Uncertainty
17.Property Rights, Externalities, Rivalry, and Exclusion
18.Asymmetric Information
19.Contracts and Moral Hazards
Revised applications and challenges illustrate the versatility of microeconomic theory
Updated - Solved Problems provide students with a step-by-step model for working out qualitative and quantitative problems using algebra and calculus. Students get the opportunity to practice the method modeled in a series of related exercises at the end of each chapter (744 exercises in total).Updated - Challenges combine an Application and a Solved Problem. Each chapter (excluding Chapter 1) begins with a Challenge, which discusses a real-world issue, and concludes with one or more questions based on that discussion. At the end of the chapter, a Challenge Solution answers these questions.Analysis of real-life problems and public policy changes ensure the text remains relevant and up-to-date
Updated - Real-World Examples use real people, companies, and data to illustrate basic microeconomic theory and provide students with a practical perspective that showcases the versatility of modern microeconomics.Updated - Extensive coverage of problems from resource economics, labor economics, international trade, public finance, and industrial organization analyzed using contemporary theories is included.Updated - What-If Policy Analysis sections use microeconomic models to probe the likely outcomes of changes in public policies. Students learn how to conduct what-if analyses of policies such as taxes, subsidies, barriers to entry, price floors and ceilings, quotas and tariffs, zoning, pollution controls, and licensing laws. The text analyzes the effects of taxes on virtually every type of market, as well as the limitations of applying economic theory to policy analysis.
Table of content
1.Introduction
2.Supply and Demand
3.A Consumer’s Constrained Choice
4.Demand
5.Consumer Welfare and Policy Analysis
6.Firms and Production
7.Costs
8.Competitive Firms and Markets
9.Properties and Applications of the Competitive Model
10.General Equilibrium and Economic Welfare
11.Monopoly and Monopsony
12.Pricing and Advertising
13.Game Theory
14.Oligopoly and Monopolistic Competition
15.Factor Markets
16.Uncertainty
17.Property Rights, Externalities, Rivalry, and Exclusion
18.Asymmetric Information
19.Contracts and Moral Hazards
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