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More About This Textbook
Overview
Included within each chapter of the study guide: Learning Objectives, Walking Tour Summaries, which are chapter outlines requiring fill-in answers, Multiple Choice questions, and Running Glossary fill-in questions. Answers are included for all questions.
Product Details
Meet the Author
Walter Nicholson is the Ward H. Patton Professor of Economics at Amherst College. He received his B.A. in mathematics from Williams College and his Ph.D. in economics from MIT. Professor Nicholson's principal research interests are in the econometric analyses of labor market problems including unemployment, job training, and the impact of international trade. Professor Nicholson and his wife, Susan, live in Amherst, Massachusetts, and Naples, Florida. What was previously a very busy household, with four children everywhere, is now rather empty, with only one rather aged Labrador retriever still underfoot. But an ever-increasing number of grandchildren breathe some life into these places whenever they visit, which seems far too seldom.
Christopher M. Snyder is a Professor of Economics at Dartmouth College. He received his B.A. in economics and mathematics from Fordham University and his Ph.D. in economics from MIT. Before coming to Dartmouth in 2005, he taught at George Washington University for over a decade, and he has been a visiting professor at the University of Chicago and MIT. He is currently President of the Industrial Organization Society and Associate Editor of the International Journal of Industrial Organization and Review of Industrial Organization. His research covers various theoretical and empirical topics in industrial organization, contract theory, and law and economics. Professor Snyder and his wife Maura Doyle (who also teaches economics at Dartmouth) live within walking distance of campus in Hanover, New Hampshire, with their three elementary-school-aged daughters.
Table of Contents
To the Student v
Introduction
Economic Models 1
Mathematics Used in Microeconomics 9
Introduction Review 18
Demand
Utility and Choice 28
Individual Demand Curves 40
Market Demand and Elasticity 56
Demand Review 66
Uncertainty and Strategy
Uncertainty 85
Game Theory 93
Uncertainty and Strategy Review 100
Production, Costs, and Supply
Production 103
Costs 114
Profit Maximization and Supply 128
Production, Costs, and Supply Review 138
Perfect Competition
Perfect Competition in a Single Market 147
Applying the Competitive Model 163
General Equilibrium and Welfare 173
Perfect Competition Review 188
Market Power
Monopoly 199
Imperfect Competition 212
Market Power Review 220
Further Topics
Pricing in Input Markets 225
Labor Supply 238
Capital and Time 244
Compound Interest 256
Asymmetric Information 262
Externalities andPublic Goods 269
Further Topics Review 281