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For courses in intermediate microeconomics, microeconomic theory, price theory, and managerial economics. The market leader in Intermediate Microeconomics, the book is well known for its coverage of modern topics (Game theory, Economics of Information), clarity of its writing style and graphs, and integrated use of real world examples. The book is used in both economics departments and business schools and is well received for its applied nature. The emphasis on relevance and application to both managerial and public-policy decision making are focused goals of the book. It succeeds in showing how microeconomics can be used as a tool for decision making.
Table of Contents
PART 1 Introduction: Markets and Prices
The Basics of Supply and Demand
PART 2 Producers, Consumers, and Competitive Markets
Individual and Market Demand
Choice Under Uncertainty
The Cost of Production
Profit Maximization and Competitive Supply
The Analysis of Competitive Markets
PART 3 Market Structure and Competitive Strategy
Market Power: Monopoly and Monopsony
Pricing with Market Power
Monopolistic Competition and Oligopoly
Game Theory and Competitive Strategy
Markets for Factor Inputs
Investment, Time, and Capital Markets
PART 4 Information, Market Failure, and the Role of Government