Microeconomics, Study Guide: An Integrated Approach / Edition 1

Microeconomics, Study Guide: An Integrated Approach / Edition 1

by David Besanko

ISBN-10: 0471390925

ISBN-13: 9780471390923

Pub. Date: 12/10/2001

Publisher: Wiley

Work more effectively and gauge your progress as you go along! This Study Guide that is designed to accompany Besanko’s Microeconomics: An Integrated Approach includes a Chapter Summary, Exercises with Multiple Choice Answers (answers provided at the end of the chapter), Chapter Review Questions with Answers, Problems with Answers, and Exam


Work more effectively and gauge your progress as you go along! This Study Guide that is designed to accompany Besanko’s Microeconomics: An Integrated Approach includes a Chapter Summary, Exercises with Multiple Choice Answers (answers provided at the end of the chapter), Chapter Review Questions with Answers, Problems with Answers, and Exam Questions with Answers for each chapter.

This new textbook, Microeconomics: An Integrated Approach, designed for intermediate microeconomics, provides the most balanced presentation of topics to ensure a thorough understanding of microeconomics. The approach includes presenting and reinforcing topics in several ways to help student learning - many extensive examples and applications, "Learn by Doing" problems throughout, and a parallel use of math and graphs.

Product Details

Publication date:
Edition description:
Study Guide
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7.60(w) x 10.78(h) x 1.22(d)

Table of Contents

Part 1Introduction To Microeconomics
Chapter 1Analyzing Economic Problems1
1.1Why Study Microeconomics?3
1.2Key Analytical Tools In Microeconomics5
1.3Positive And Normative Analysis21
Chapter 2Supply and Demand Analysis25
2.1Demand, Supply, And Market Equilibrium27
2.2Price Elasticity Of Demand46
2.3Other Elasticities55
2.4Long-Run Versus Short-Run Demand And Supply60
2.5Back-Of-The-Envelope Calculations65
Appendix AStructural Versus Reduced-Form Equations76
Appendix BMore On Elasticity
Part 2Consumer Theory
Chapter 3Consumer Preferences and the Concept of Utility80
3.1Representations Of Preferences82
3.2Utility Functions84
Chapter 4Consumer Choice111
4.1The Budget Constraint113
4.2Optimal Choice118
4.3Consumer Choice With Composite Goods131
4.4Revealed Preference145
AppendixThe Mathematics Of Consumer Choice154
Chapter 5The Theory of Demand156
5.1Optimal Choice And Demand158
5.2Income And Substitution Effects171
5.3Consumer Surplus185
5.4Market Demand197
5.5Network Externalities199
5.6The Choice Of Labor And Leisure203
5.7Consumer Price Indices208
Part 3Production And Cost Theory
Chapter 6Inputs and Production Functions215
6.1Inputs And Production Functions217
6.2Production Functions With A Single Input219
6.3Production Functions With More Than One Input224
6.4Substitutability Among Inputs235
6.5Returns To Scale245
6.6Technological Progress250
AppendixThe Elasticity Of Substitution For A Cobb-Douglass Production Function256
Chapter 7Costs and Cost Minimization258
7.1Cost Concepts For Decision Making260
7.2The Cost Minimization Problem268
7.3Comparative Statics Analysis Of The Cost Minimization Problem276
7.4Short-Run Cost Minimization287
AppendixAdvanced Topics In Cost Minimization297
Chapter 8Cost Curves300
8.1Long-Run Cost Curves302
8.2Long-Run Average And Marginal Cost308
8.3Short-Run Cost Curves320
8.4Special Topics In Cost331
8.5Estimating Cost Functions337
AppendixShephard's Lemma And Duality341
Part 4Perfect Competition
Chapter 9Perfectly Competitive Markets346
9.1What Is Perfect Competition?348
9.2Profit Maximization By A Pricetaking Firm349
9.3How The Market Price Is Determined: Short-Run Equilibrium355
9.4How The Market Price Is Determined: Long-Run Market Equilibrium377
9.5Economic Rent And Producer Surplus393
AppendixProfit Maximization Implies Cost Minimization407
Chapter 10Competitive Markets: Applications409
10.1The Invisible Hand411
10.2Impact Of An Excise Tax413
10.4Price Ceilings (Maximium Price Regulation)425
10.5Price Floors (Minimum Price Regulation)435
10.6Production Quotas442
10.7Other Price Supports446
10.8Import Tariffs And Quotas450
Part 5Market Power
Chapter 11Monopoly and Monopsony462
11.1Profit Maximization By A Monopolist464
11.2The Inverse Elasticity Pricing Rule474
11.3Monopoly Comparative Statics485
11.4Multiplant Monopoly492
11.5The Welfare Economics Of Monopoly497
11.6Why Do Monopoly Markets Exist?499
Chapter 12Capturing Surplus514
12.1Capturing Surplus516
12.2First-Degree Price Discrimination519
12.3Second-Degree Price Discrimination524
12.4Third-Degree Price Discrimination531
12.5Tying (Tie-In Sales)538
Part 6Imperfect Competition And Strategic Behavior
Chapter 13Market Structure and Competition550
13.1Types Of Market Structures552
13.2Oligopoly With Homogeneous Products553
13.3Dominant Firm Markets569
13.4Oligopoly With Differentiated Products573
13.5Monopolistic Competition584
AppendixThe Cournot Equilibrium And The Inverse Elasticity Price Rule592
Chapter 14Game Theory and Strategic Behavior594
14.1The Concept Of Nash Equilibrium596
14.2The Repeated Prisoners' Dilemma610
14.3Sequential-Move Games And Strategic Moves616
Part 7Special Topics
Chapter 15Risk and Information627
15.1Describing Risky Outcomes629
15.2Evaluating Risky Outcomes634
15.3Bearing And Eliminating Risk641
15.4Analyzing Risky Decisions649
Chapter 16General Equilibrium Theory672
16.1General Equilibrium Analysis: Two Markets674
16.2General Equilibrium Analysis: Many Markets679
16.3General Equilibrium Analysis: Comparative Statics691
16.4The Efficiency Of Competitive Markets696
16.5Gains From Free Trade709
AppendixDeriving The Demand And Supply Curves For The General Equilibrium In Figure 16.9719
Chapter 17Externalities and Public Goods726
17.2Public Goods749
Mathematical Appendix757
A.1Functional Relationships758
A.2What Is A Margin?760
A.4How To Find A Derivative764
Derivative of a Constant764
Derivative of a Power Function764
Derivatives of Sums and Differences767
Derivatives of a Natural Logarithm767
Derivatives of Products768
Derivatives of Quotients768
A.5Maximization And Minimization Problems768
Optimal Quantity Choice Rules770
A.6Multivariable Functions770
Finding a Maximum or a Minimum772
A.7Constrained Optimization774
A.8Lagrange Multipliers776
Solutions To Selected Problems779

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