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Microeconomics for Today
Second Edition
Irvin B. Tucker
University of North Carolina at Charlotte
Brief Contents
Part I
Introduction to Economics 1
1
Introducing the Economic Way of Thinking 1
Appendix to Chapter 1 Applying Graphs to Economics 20
2
Production Possibilities and Opportunity Cost 33
3
Market Demand and Supply 53
4
Markets in Action 83
Appendix to Chapter 4 Applying Supply and Demand Analysis to Health Care 108
Part II
Microeconomic Fundamentals 53
5
Price Elasticity of Demand and Supply 113
6
Consumer Choice Theory 139
7
Production Costs 153
Part III
Market Structures 181
8
Perfect Competition 181
9
Monopoly 209
10
Monopolistic Competition and Oligopoly 233
11
Labor Markets 258
Part IV
Microeconomic Policy Issues 281
12
Income Distribution, Poverty, and Discrimination 281
13
Antitrust and Regulation 307
14
Environmental Economics 332
Part V
The International Economy 353
15
International Trade and Finance 353
16
Comparative Economic Systems 384
17
Growth and the Less-Developed Countries 407
Appendix A
Answers to Odd-Numbered Study Questions and Problems 433
Appendix B
Practice Quiz Answers 445
Appendix C
United States Gross Domestic Product and Related Statistics 449
Glossary 457
Index 465
About the Author
IRVIN B. TUCKER has over twenty years of experience teaching introductory economics at the University of
North Carolina at Charlotte and the University of South Carolina. He earned his B.S. in economics at N.C. State
University and his M.A. and Ph.D. in economics from the University of South Carolina.
Dr. Tucker is former Director of the Center for Economic Education at the University of North Carolina at
Charlotte and long-time member of the National Council on Economic Education. He is recognized for his ability
to relate basic principles to economic issues and public policy. His work has received national recognition by being
awarded the Meritorious Leavy Award for Excellence in Private Enterprise Education, the Federation of
Independent Business Award for Postsecondary Educator of the Year in Entrepreneurship and Economic
Education, and the Freedom Foundation's George Washington Medal for Excellence in Economic Education. In
addition, he has published numerous professional journal articles on a wide range of topics including studies of
industrial organization, entrepreneurship, and sports economics. Dr. Tucker is also the author of the highly
successful second edition of Survey of Economics, a text for one-semester economics courses, published by South-
Western College Publishing.
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