Microeconomics: An Integrated Approach
Coverage of modern topics and more modern treatment of conventional topics. Examples include an integrated treatment of game theory, ologopoly, a more detailed treatment of sunk costs, and consumer surplus.
* Two chapters devoted to costs and cost curves, as well as a section on consumer surplus, which includes concepts of compensating and equivalent variations.
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additional amount analysis axis basket budget line called capital Chapter choice choose clothing comparative competitive consider constant consumer consumer surplus consumer's consumption corn cost curve decrease demand curve diminishing dollars draw economic effect elasticity of demand equal equation equilibrium equilibrium price example expenditure falls Figure firm firm's fixed give given graph higher housing illustrates important income increase indifference curve industry initial input isoquant labor LEARNING-BY-DOING EXERCISE less long-run marginal cost marginal utility maximize measures million month move negative network externalities optimal output percent positive preferences price elasticity price of food Problem producer surplus production function profit purchase quantity returns rises roses scale shift short-run shows slope spend substitution supply curve Suppose Table tells tion total cost units units of food utility function variable vertical wage