This well-received book is a market leader in the field of Microeconomics, and demonstrates how microeconomics can be used as a tool for both managerial and public-policy decision making. Clear writing style and graphs compliment the integrated use of current, real world industry examples throughout the book. It emphasizes relevance and application to cover modern topics—such as Game Theory and economics of information—and examples—such as United States v. Microsoft, pricing cellular phone service, and Internet auctions. Coverage of other up-to-date issues includes supply and demand, cost, consumer behavior, individual and market demand, market failure, and the role of government. For individuals with an interest in economics, microeconomic theory, and price theory.
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The Basics of Supply and Demand
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allocation amount automobile budget line bundle buyers capital cars Chapter choose competitive market competitors consumer surplus consumption cost curve cost of production deadweight loss decisions demand curve dollars earn economic efficient elasticity of demand emissions equal equation equilibrium example expenditure Figure firm firm's gasoline given higher income effect increase indifference curve industry inputs investment isocost isoquant level of output long-run marginal cost marginal cost curve marginal product marginal rate marginal revenue market basket market price maximize microeconomics million monopoly power monopsony Nash equilibrium outcome payoff percent preferences price and quantity price elasticity price of food product of labor profit profit-maximizing purchase quantity demanded quantity supplied result returns to scale risk sell sellers shift short-run shows slope strategy substitution sumer supply and demand supply curve Suppose tion total cost unit of output units of clothing units of food utility function workers zero
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The Origin of Wealth: Evolution, Complexity, and the Radical Remaking of ...
Eric D. Beinhocker
Vista previa limitada - 2006