Microeconomics, Theory and Applications |
Contents
Chapter One Introduction to Microeconomics | 1 |
Chapter Two Demand and Supply | 25 |
Chapter Four Consumer Behavior | 93 |
Copyright | |
13 other sections not shown
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Common terms and phrases
additional unit allocation analysis assume assumption budget constraint bundle capital cartel Chapter consider constant consumer consumer's surplus consumption curve in Figure decrease demand curve determine economists efficient elasticity of demand equal Equation example factor inputs firm's gasoline given horizontal income effect increase indifference curve individual industry input combination intersection isocost isoquant curve less level of output long-run average cost LRAC curve LRMC LRTC marginal cost marginal product marginal rate marginal revenue marginal value market price maximize minimum monopolistically competitive monopoly oligopoly optimal output Q P₁ P₂ perfectly competitive perfectly competitive firm political pollution position preferences price ceiling price discrimination price elasticity profit-maximizing purchase pure profits Q₁ Q₂ quantity rate of substitution ratio reduce result revenue curve short-run shown in Figure SRAC SRMC SRTC substitution effect suppliers supply curve tangent tion total revenue units of labor utility voters voting rule wage wheat
