A market-leading text, Microeconomics presents economic theory in the context of real, data-driven examples, and then helps you develop your intuition through hallmark Solved Problems. The text places emphasis on modern theories, such as industrial organization theory, game theory, and transaction cost theory, which are useful in analyzing actual markets. At the same time, a step-by-step problem-based learning approach demonstrates how to use microeconomic theory to solve business problems and analyze policy. The 9th Edition, Global Edition, has been substantially updated with new or revised real-world examples, applications and problems. This gives you a practical perspective, seeing how models connect to real-world decisions being made in today's firms and policy debates. This print textbook is available for students to rent for their classes. The Pearson print rental program provides students with affordable access to learning materials, so they come to class ready to succeed.
Introduction Supply and Demand Applying the Supply-and-Demand Model Consumer Choice Applying Consumer Theory Firms and Production Costs Competitive Firms and Markets Applying the Competitive Model General Equilibrium and Economic Welfare Monopoly Pricing and Advertising Oligopoly and Monopolistic Competition Game Theory Factor Markets Interest Rates, Investments, and Capital Markets Uncertainty Externalities, Open-Access, and Public Goods Asymmetric Information Contracts and Moral Hazards APPENDICES 2A. Regressions 3A. Effects of a Specific Tax on Equilibrium 4A. Utility and Indifference Curves 4B. Maximizing Utility 5A. The Slutsky Equation 5B. Labor-Leisure Model 6A. Properties of Marginal and Average Product Curves 6B. The Slope of an Isoquant 6C. Cobb-Douglas Production Function 7A. Minimum of the Average Cost Curve 7B. Japanese Beer Manufacturer's Short-Run Cost Curves 7C. Minimizing Cost 8A. The Elasticity of the Residual Demand Curve 8B. Profit Maximization 9A. Demand Elasticities and Surplus 11A. Relationship Between a Linear Demand Curve and Its Marginal Revenue Curve 11B. Incidence of a Specific Tax on a Monopoly 12A. Perfect Price Discrimination 12B. Group Price Discrimination 12C. Block Pricing 12D. Two-Part Pricing 12E. Profit-Maximizing Advertising and Production 13A. Nash-Cournot Equilibrium 13B. Nash-Stackelberg Equilibrium 13C. Nash-Bertrand Equilibrium 15A. Factor Demands 15B. Monopsony 16A. The Present Value of Payments over Time 18A. Welfare Effects of Pollution in a Competitive Market 20A. Nonshirking Condition Answers to Selected Questions and Problems
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