Study Guide Micro

by Baumol, William J.; Blinder, Alan S.

• ISBN13: 9780030268489
• ISBN10: 0030268486
• Edition: 8th
• Format: Paperback
• Copyright: 1999-09-16
• Publisher: South-Western College Pub

Summary

To accomplish your course goals, use this study guide to enhance your understanding of the text content and to be better prepared for quizzes and tests. This convenient manual helps you assimilate and master the information encountered in the text through the use of practice exercises and applications, comprehensive review tools, and additional helpful resources.

Table of Contents

What is Economics?	1	(8)
The Use and Misuse of Graphs	9	(12)
The Economy: Myth and Reality	21	(10)
Scarcity and Choice: The Economic Problem	31	(14)
Supply and Demand: An Initial Look	45	(12)
Consumer Choice: Individual and Market Demand	57	(18)
Demand and Elasticity	75	(12)
Production, Inputs, and Cost: Building Blocks for Supply Analysis	87	(18)
Output, Price, and Profit: The Importance of Marginal Analysis	105	(12)
The Firm and the Industry Under Perfect Competition	117	(12)
The Price System and the Case for Free Markets	129	(12)
Monopoly	141	(12)
Between Competition and Monopoly	153	(10)
The Market Mechanism: Shortcomings and Remedies	163	(12)
The Microeconomics of Innovation: Prime Engine of Growth	175	(8)
Real Firms and Their Financing: Stocks and Bonds	183	(14)
Pricing the Factors of Production	197	(14)
Labor: The Human Input	211	(14)
Poverty, Inequality, and Discrimination	225	(12)
Limiting Market Power: Regulation and Antitrust	237	(14)
Taxation and Resource Allocation	251	(14)
Externalities, the Environment, and Natural Resources	265	(12)
International Trade and Comparative Advantage	277	(14)
Answer Key	291