Principles of MicroeconomicsThis newly updated edition of a highly regarded the principles of microeconomics text provides your students with the most up-to-date information available. Cases, tables, data, and more were updated to reflect 2003 data. The text also has a four-color internal and full supplement package that complements the text?s superb conversational style, which engages students like none other. Principles of Microeconomics, 4e represents the results Fred Gottheil?s career as an outstanding professor and author. This edition is maintains the proven structure and style of previous editions while updating content to make it even more valuable to professors and students alike. The author continues to use familiar stories, illustrations, scenarios, and a direct-to-student writing style to appeal to students' interests. The narrative is built around questions, which cut the distance between the student and the unfamiliar concepts of economics. Instead of covering hundreds of topics superficially, the book presents basic concepts in depth and develops economic analysis step-by-step. The result?learning economics becomes relative, interactive and appealing versus mere passive course participation. |
Common terms and phrases
average total cost boat bushel capital change in quantity Chapter check your understanding competition consumer surplus consumption corn corporate COST CURVE create cross elasticity Crusoe decrease demand and supply demand curve dollar economic economists economy's elasticity of demand equilibrium price example excess supply exchange rate exports farm farmers firm's firms fish fishermen GOTTHEIL graph income elasticities indifference curve industry labor LDCs less loanable funds long-run Lorenz curve marginal cost marginal revenue marginal utility Microeconomics million miners monopolistic competition monopoly MU/P oligopoly opportunity cost output percent percentage change perfect competition price and quantity price ceiling price changes price elasticity price floor produce production possibilities curve profit QUANTITY PANEL quantity supplied ratio shift short-run sloping suppliers supply curve Suppose table in Exhibit tickets tion total utility trade U.S. dollars union units of clothes variable cost wage rate workers yaps