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Full Description
Microeconomics, 6th Edition gives students the most effective approach for learning microeconomic tools and concepts. This text provides an accessible, integrated structure with numerous practice problems, exercises, and engaging applications. Worked-out Learning-by-Doing problems, mathematical and graphical data, and verbal explanations enable business and economics majors to recognize significant data, patterns, and trends.
Contents
Part 1 Introduction to Microeconomics
Chapter 1 Analyzing Economic Problems 1
Chapter 2 Demand and Supply Analysis 26
Appendix: Price Elasticity of Demand Along a Constant Elasticity Demand Curve 74
Part 2 Consumer Theory
Chapter 3 Consumer Preferences and the Concept of Utility 75
Chapter 4 Consumer Choice 105
Appendix 1: The Mathematics of Consumer Choice 145
Appendix 2: The Time Value of Money 146
Chapter 5 The Theory of Demand 152
Part 3 Production and Cost Theory
Chapter 6 Inputs and Production Functions 204
Appendix: The Elasticity of Substitution for a Cobb-Douglas Production Function 247
Chapter 7 Costs and Cost Minimization 249
Appendix: Advanced Topics in Cost Minimization 285
Chapter 8 Cost Curves 289
Appendix: Shephard's Lemma and Duality 327
Part 4 Perfect Competition
Chapter 9 Perfectly Competitive Markets 331
Appendix: Profit Maximization Implies Cost Minimization 388
Chapter 10 Competitive Markets: Applications 390
Part 5 Market Power
Chapter 11 Monopoly and Monopsony 442
Chapter 12 Capturing Surplus 489
Part 6 Imperfect Competition and Strategic Behavior
Chapter 13 Market Structure and Competition 532
Appendix: The Cournot Equilibrium and the Inverse Elasticity Pricing Rule 574
Chapter 14 Game Theory and Strategic Behavior 575
Part 7 Special Topics
Chapter 15 Risk and Information 608
Chapter 16 General Equilibrium Theory 654
Appendix: Deriving the Demand and Supply Curves for General Equilibrium 698
Chapter 17 Externalities and Public Goods 703
Mathematical Appendix 739
Solutions to Selected Problems 759
Glossary 781
Index 789
