Part 2: From Individual Choices to Market Outcomes

Chapter 6 Willingness to Pay and the Demand for Goods and Services
Chapter 7 Translating Demand into Reality: The Supply of Goods and Services
Chapter 8 The Makings of a Trade
Chapter 9 Price Elasticity: Measuring the Sensitivity of Buyers and Sellers to Changes in Price

Part 3: Comparative Advantage, Specialization, and Trade

Chapter 10 Gains From Trade in the Household and in the Market
Chapter 11 Expenditure Decisions and the Income Elasticity of Demand
Chapter 12 Purchasing Household Outputs: The Impact of Subsidies and Taxes
Chapter 13 Investing for the Future: Accumulating Human and Other Types of Capital
Chapter 14 Human Capital in the Workplace

Part 4: The Strategic Behavior of Firms: Surviving in the Marketplace

Chapter 15 Minimizing the Costs of Production
Chapter 16 How a Firm Chooses the Right Level of Production
Chapter 17 From Price Takers to Price Makers: Monopolies and Monopsonies
Chapter 18 Oligopolies: The Strategic Behavior of Rivals

Part 5: Winners and Losers in a Competitive World:Are Free Markets Unfair ?

Chapter 19 The Personal Cost of Maximizing the Economic Pie

Glossary
Index

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