For undergraduate and graduate economics majors who are enrolled in an Intermediate Microeconomics course. A book that provides a treatment of microeconomic theory that stresses the relevance and application to managerial and public policy decision making.

Table of Contents

Part I. Introduction: Markets and Prices Chapter 1. Preliminaries Chapter 2. The Basics of Supply and Demand Part II. Producers, Consumers, and Competitive Markets Chapter 3. Consumer Behavior Chapter 4. Individual and Market Demand Chapter 5. Uncertainty and Consumer Behavior Chapter 6. Production Chapter 7. The Cost of Production Chapter 8. Profit Maximization and Competitive Supply Chapter 9. The Analysis of Competitive Markets Part III. Market Structure and Competitive Strategy Chapter 10. Market Power: Monopoly and Monopsony Chapter 11. Pricing with Market Power Chapter 12. Monopolistic Competition and Oligopoly Chapter 13. Game Theory and Competitive Strategy Chapter 14. Markets for Factor Inputs Chapter 15. Investment, Time, and Capital Markets Part IV. Information, Market Failure, and the Role of Government Chapter 16. General Equilibrium and Economic Efficiency Chapter 17. Markets with Asymmetric Information Chapter 18. Externalities and Public Goods Appendix: The Basics of Regression Glossary Answers to Selected Exercises Photo Credits Index