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The 10 th edition of Browning and Zupan's Microeconomics: Theory and Applications continues to motivate students and introduce them to current thinking in the field. This book appeals to students and instructors alike because of its accessibility, large number of applications, and the clear step-by-step manner in which graphs are introduced.In this new edition, the authors have included more applications and more mathematical material to reinforce students' understanding of basic microeconomic principles. This knowledge of microeconomic theory will serve as an essential foundation for any business major or for those preparing for a future career as a business professional.
Edgar K. Browning is the Alfred F. Chalk Professor in Economics at Texas A&M University and his specialty is Public Economics. He earned a B.A. in Economics from the University of Virginia and a Ph.D. in Economics from Princeton University in 1971. A selected list of his publications includes “ A Neglected Welfare Cost of Monopoly- and Most other Product Market Distortions,” Journal of Public Economics, 1997; The Non-Tax Wedge,” Journal of Public Economics, 1994; “The Marginal Cost of Redistribution,” Public Finance Quarterly, 1993; “On the Marginal Welfare Cost of Taxation,” American Economic Review, 1987; “The Trade-Off Between Equality and Efficiency,” Journal of Political Economy, 1984.
Table of Contents
|An Introduction to Microeconomics|
|The Scope of Microeconomic Theory|
|The Nature and Role of Theory|
|Positive Versus Normative Analysis|
|Market Analysis and Real Versus Normal Prices|
|Basic Assumptions about Market Participants|
|Production Possibility Frontier|
|Supply and Demand|
|Demand and Supply Curves|
|Determination of Equilibrium Price and Quantity|
|Adjustment to Changes in Demand or Supply|
|Government Intervention in Markets: Price Controls|
|The Mathematics Associated with Elasticities|
|The Theory of Consumer Choice|
|The Budget Constraint|
|The Consumer's Choice|
|Changes in Income and Consumption Choices|
|Are People Selfish?|
|The Utility Approach to Consumer Choice|
|The Mathematics Behind Consumer Choice|
|Individual and Market Demand|
|Price Changes and Consumption Choices|
|Income Substitution Effects of a Price Change|
|Income and Substitution Effects: Inferior Goods|
|From Individual to Market Demand|
|Price Elasticity and the Price-Consumption Curve|
|The Basics of Demand Estimation|
|Deriving the Consumer's Demand Curve Mathematically|
|Using Consumer Choice Theory|
|Excise Subsidies, Health Care, and Consumer Welfare|
|Public Schools and the Voucher Proposal|
|Paying for Garbage|
|The Consumer's Choice to Save or Borrow|
|Exchange, Efficiency, and Prices|
|Efficiency in the Distribution of Goods|
|Competitive Equilibrium and Efficient Distribution|
|Price and Nonprice Rationing and Efficiency|
|Some of the Mathematics behind Efficiency in Exchange|
|Relating Output to Inputs|
|Production When Only One Input is Variable: The Short Run|
|Production When All Inputs are Variable: The Long Run|
|Returns to Scale|
|Functional Forms and Empirical Estimation of Production Functions|
|The Mathematics behind Production Theory|
|The Cost of Production|
|The Nature of Cost|
|Short-Run Cost of Production|
|Short-Run Cost Curves|
|Long-Run Cost of Production|
|Input Price Changes and Cost Curves|
|Long-Run Cost Curves|
|Learning by Doing|
|Importance of Cost Curves to Market Structure|
|Using Cost Curves: Controlling Pollution|
|Economies of Scale|
|Estimating Cost Functions|
|The Mathematics behind Production Cost|
|Profit Maximization in Perfectly Competitive Markets|
|The Assumptions of Perfect Competition|
|The Demand Curve Facing the Competitive Firm|
|Short-Run Profit Maximization|
|The Perfectly Competitive Firm's Short-Run Supply Curve|
|The Short-Run Industry Supply Curve|
|Long-Run Competitive Equilibrium|
|The Long-Run Industry Supply Curve|
|When Does the Competitive Model Apply?|
|Using the Competitive Model|
|The Evaluation of Gains and Losses|
|Airline Regulation and Deregulation|
|City Taxicab Markets|
|Consumer and Producer Surplus, and the Net Gains from Trade|
|Government Intervention in Markets: Quality Controls|
|The Monopolist's Demand and Marginal Revenue Curves|
|Table of Contents provided by Publisher. All Rights Reserved.|