Microeconomic Theory: Basic Principles and ExtensionsNicholson's Microeconomic Theory: Basic Principles and Extensions, 9th edition is a tried-and-true, well-known and respected market-leading text. Applauded for providing the most clear and accurate presentation of advanced microeconomic concepts, it offers an ideal level of mathematical rigor for upper level undergraduate students and beginning graduate students. It gives students the opportunity to work directly with theoretical tools, real-world applications, and cutting edge developments in the study of microeconomics. This text is solid, rigorous, comprehensive, and is sensibly challenging for students, best serving students with a mathematics background. |
Contents
PARTINKER INTRODUCTION | 1 |
ECONOMIC MODELS | 3 |
THE MATHEMATICS OF OPTIMIZATION | 20 |
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allocation analysis assume assumption average cost budget constraint calculated Chapter choice choose Cobb-Douglas concave constant consumer surplus consumption cost curves cost function deadweight loss definition demand curve demand functions depend economic economists envelope theorem equal Equation equilibrium price example expenditure function Figure firm firm's first-order conditions func given Hence homogeneous illustrated income effect increase indifference curve individual individual's industry input prices isoquant labor Lagrangian marginal cost marginal productivity marginal revenue market price mathematical maximization maximum monopoly Nash equilibrium negative optimal output level P₁ preferences price changes problem producer surplus production function production possibility frontier profit function profit-maximizing provides quantity ratio relationship represents result returns to scale rise shift short-run supply shows slope strategy substitution effect supply curve Suppose theorem theory tion total cost U₁ unit utility function utility-maximizing variable wage welfare x₁ yields zero дх