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Business professionals that struggle to understand key concepts in economics and how they are applied in the field rely on Microeconomics. The fourth edition makes the material accessible while helping them build their problem-solving skills. It includes numerous new practice problems and exercises that arm them with a deeper understanding. Learning by Doing exercises explore the theories while boosting overall math skills. Graphs are included throughout the mathematical discussions to reinforce the material. In addition, the balanced approach of rigorous economics gives business professionals a more practical resource.
''As a study guide, this handbook really stands out. It explains the principles very clearly in a logical order and it uses a lot of examples and cases for students to practice the new techniques. The chapters start with a story to show the real life relevance of the concepts, which is clearly appreciated by the students. Highly recommended for teaching first-year students!'' -Dr Catherine Schaumans, University of Tilburg, The Netherlands
Table of Contents
|Introduction To Microeconomics|
|Analyzing Economic Problems|
|Demand and Supply Analysis|
|Consumer Preferences and the Concept of Utility|
|The Theory of Demand|
|Production and Cost Theory|
|Inputs and Production Functions|
|Costs and Cost Minimization|
|Perfectly Competitive Markets|
|Competitive Markets: Applications|
|Monopoly and Monopsony|
|Imperfect Competition and Strategic Behavior|
|Market Structure and Competition|
|Game Theory and Strategic Behavior|
|Risk and Information|
|Externalities and Public Goods|
|Table of Contents provided by Publisher. All Rights Reserved.|