Microeconomics: Principles and Applications
Each chapter includes "Speaking Economics" vocabulary sections, Chapter Highlights, Important Concepts, "Skills and Tools" exercises involving quantitative problems, and Practice Tests.
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Principles 1 Microeconomics Principles Macroeconomics Principles
Scarcity Choice and Economic Systems
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absolute advantage ATC curve average total cost bond budget line BUILD YOUR SKILLS cause charge comparative advantage competitive labor market consumer correct answer curve to shift decrease DVRs earn economic profit elasticity of demand equal equilibrium price equilibrium quantity firm's total graph grid human capital income increase indifference curve input interest rate labor demand curve labor supply curve last unit LEARN THE LINGO level of output long run Lorenz curve marginal cost marginal product marginal revenue marginal utility market labor demand market price market supply curve minimum monopolistic competition monopoly monopsony Multiple Choice oligopoly opportunity cost oranges output level Pareto improvements payment percentage change perfectly competitive market plot price discrimination price elasticity quantity demanded quantity supplied rise shift rightward short run slope SUMMARIZE THE CHAPTER surplus total revenue trade True/False unit of output utility per dollar wage rate word bank