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Brief Contents
PART 1 INTRODUCTION TO MICROECONOMICS
CHAPTER 1 Analyzing Economic Problems 1
CHAPTER 2 Demand and Supply Analysis 26
APPENDIX: Price Elasticity of Demand Along a Constant Elasticity Demand Curve 72
PART 2 CONSUMER THEORY
CHAPTER 3 Consumer Preferences and the Concept of Utility 73
CHAPTER 4 Consumer Choice 103
APPENDIX 1: The Mathematics of Consumer Choice 143
APPENDIX 2: The Time Value of Money 144
CHAPTER 5 The Theory of Demand 150
PART 3 PRODUCTION AND COST THEORY
CHAPTER 6 Inputs and Production Functions 200
APPENDIX: The Elasticity of Substitution for a Cobb–Douglas Production Function 243
CHAPTER 7 Costs and Cost Minimization 245
APPENDIX: Advanced Topics in Cost Minimization 281
CHAPTER 8 Cost Curves 285
APPENDIX: Shephard’s Lemma and Duality 323
PART 4 PERFECT COMPETITION
CHAPTER 9 Perfectly Competitive Markets 327
APPENDIX: Profit Maximization Implies Cost Minimization 384
CHAPTER 10 Competitive Markets: Applications 386
PART 5 MARKET POWER
CHAPTER 11 Monopoly and Monopsony 438
CHAPTER 12 Capturing Surplus 485
PART 6 IMPERFECT COMPETITION AND STRATEGIC BEHAVIOR
CHAPTER 13 Market Structure and Competition 528
APPENDIX: The Cournot Equilibrium and the Inverse Elasticity Pricing Rule 570
CHAPTER 14 Game Theory and Strategic Behavior 571
PART 7 SPECIAL TOPICS
CHAPTER 15 Risk and Information 604
CHAPTER 16 General Equilibrium Theory 648
APPENDIX: Deriving the Demand and Supply Curves for General Equilibrium 692
CHAPTER 17 Externalities and Public Goods 697
Mathematical Appendix 729
Solutions to Selected Problems 749
Glossary 771
Photo Credits 781
Index 783
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