Microeconomics: Principles and Applications

Portada
Dryden Press, 1989 - 768 páginas

Contenido

PART
2
Chapter
6
The Law of Scarcity 8 Scarcity of Resources 8 Scarcity
12
Scarcity Opportunity Cost and
19
Available to Society 24 The Law of Increasing Costs
25
Appendix
39
Exchange and Economic Organization 52
52
Gift Giving 58 Trade and Production at the Lowest Cost
58
The Economics of Price Searching
404
PRICE SEARCHING
405
What Is a Monopoly? 410 Barriers
412
Chapter 11
417
The Theory of Monopoly 414 Deriving the MarginalReve
422
Competitive? 429 Arguments in Defense of Monopoly 429
429
Price Discrimination 434 Summary
436
12
492

Specialization Fostered by Trade 60 Specialization
67
3 ANALYSIS
74
Determined in a Market Economy
82
HOW PRICE IS DETERMINED IN A MARKET ECONOMY
87
What Is a Market? 86 Competitive Mar
90
Education at Risk 176
103
Chapter 2
109
KEY QUESTIONS
117
The Fundamentals of Exchange
120
The Economic Theory of Information 123 Transaction Costs sionate Minority 199 Shortsighted Effect 200 Opera
129
Competition in the WineGrape
135
Why Prices Change 140 Changes
147
Demand 152 Summary
157
2 ANALYSIS
163
Chapter 4
209
Revenues
211
Chapter 6
226
The Concept of Relative Price 230
234
The Peculiar Effects of Auto Safety
240
Summary
246
Appendix to Chapter 6 Indifference Curves
257
The Budget Line 257 Indifference Curves 260 The Con
263
Supply
268
PREVIEW 7
269
Calculating the Price Elasticity of Demand 273 Price Elas
285
APPLICATION 7
291
17 2 ANALYSIS
297
Costs and Supply
308
Explicit versus Implicit Costs 313 Economic Profit versus
316
Costs of Production 322 Costs of Production in the Short
322
Why an Airline Should Fly
329
The Market Supply Curve 330 Costs of Production in
335
1 ANALYSIS
341
Chapter 9
358
tive Firms Demand Curve 364 The Competitive Firms Sup
366
PART 3
374
LongRun Costs in the Industry 379 Market Adjustments
384
Appendix to Chapter 9 The Concept of
402
Barriers
498
Conditions for Stable Collusion 505 Anticipated Reactions
507
515 Product Variations 515 Advertising and Promotion
515
Theory
533
FACTOR MARKETS
540
Chapter 13
546
Demand for the Factors of Production 552 Substitution
554
Changes in the Demand for a Factor of Production 555
562
2 ANALYSIS
568
14
574
Market
578
Monopoly or Price Searching in
582
Determination with Monopsony 587 Labor Unions 588
588
A Brief History of Unions
594
PART 5
596
15
609
and Profits
612
Interest 616 Capital 616 Rate
625
The Single Tax and the Economic
631
Summary
637
3 ANALYSIS
643
MARKET FAILURE AND PUBLIC POLICY
649
Antitrust Law and Regulation
650
History of U S Antitrust Law 654 The portance of Property Rights 689 Common Property and
664
1 ANALYSIS
670
Chapter 17
678
Income
710
Income Distribution in the United States 717 Effect of Taxes
722
Wel
730
1 ANALYSIS
736
Chapter 19
744
Public Goods 749 Efficient Provision of a Public Good
751
Access 752 Assumption of Risk 753 Provision for Future
760
LIST OF APPLICATIONS
769
How Competitive Markets Function
Endangered and Extinct 715
PHOTOGRAPHIC CREDITS

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