This book, which focuses on the fundamentals of microeconomic theory, presents an integrated approach to solving decision-making problems. Concepts are developed by using several tools: words, graphs, mathematics, and real-world examples; this allows the reader to solve many models and problems by forming actual numerical solutions, providing an understanding of the underlying principles these solutions represent.
The book is organized into 6 broad-based topical areas: a review of basic calculus techniques, including univariate and multivariate functions; theory of the consumer, including utility theory, consumer optimization, market demand curves, and demand related elasticities; theory of the firm, including short and long run production; market structures, including perfect competition, monopoly, and oligopoly; input markets, including demand for and supply of labor, and capital markets; and general equilibrium analysis.
For those needing to analyze decision-making processes of their business, including agents, consumers, entrepreneurs, suppliers of resources, investors, and policy-makers.
Principles of microeconomic theory are integrated with basic calculus, graphs, and real world applications in this text for a course in intermediate microeconomics and for first-year graduate courses for MBA or master's-level economics programs. Coverage includes theories of the consumer and the firm, market structures, input markets, and general equilibrium analysis. Key concepts are first developed on an intuitive level and then demonstrated with mathematical and graphical examples with solutions. Applications are based on articles published in well-known business and economics publications. An understanding of differential calculus is assumed, and advanced material is flagged. The authors are affiliated with Shippensburg University. Annotation c. Book News, Inc., Portland, OR (booknews.com)