Principles of MicroeconomicsBring the study of economics to life with Principles of Microeconomics, 5th edition. Award-winning educator and author Fred Gottheil speaks directly to student experience through a conversational writing style and narrative that uses stories, familiar examples, engaging scenarios, and relevant examples from literature emphasizing that economic principles can be found in all aspects of modern life. The text focuses on the key questions and presents the basic concepts-developing economic analysis step-by-step. The result is a more interactive and enjoyable learning experience when compared to the pedantic approaches often found in texts. Each chapter in the fifth edition has been thoroughly revised to reflect the most relevant data and also emerging and critical issues such as the issues of Iraq, terrorism, Katrina, China, and more. We invite you to see for yourself how Fred Gottheil's approach will help to shorten the distance between students and the exciting study of economics. |
Contents
THE BASICS OF ECONOMIC ANALYSIS | 1 |
INTRODUCTION | 2 |
The Circular Flow Model of Goods and Money | 8 |
Copyright | |
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amusement average total cost boat bushel capital change in quantity Chapter consumer surplus consumption corn corporate create cross elasticities decrease demand and supply demand curve dollar economic profit economists elasticity of demand entrepreneurs equilibrium price example exchange rate exports farm farmers firm's fish fishermen fixed cost GOTTHEIL graph hire horizontal income increases indifference curve industry investment labor LDCs less loanable funds long-run Lorenz curve marginal cost marginal revenue marginal utility market demand market price market share market structure maximize merger million miners monopolistic competition monopoly oligopoly opportunity cost percent perfect competition price ceiling price changes price elasticity price floor production possibilities curve quantity demanded QUANTITY PANEL quantity supplied Rudd sell shift short-run sloping substitutes suppliers supply curve Suppose table in Exhibit tons total revenue total utility trade U.S. dollars union variable cost wage rate workers yaps