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Microeconomics

Author: Robert S Pindyck; Daniel L Rubinfeld
Publisher: Upper Saddle River, N.J. : Prentice Hall, ©2001.
Series: Prentice-Hall series in economics.
Edition/Format:   Book : English : 5th edView all editions and formats
Database:WorldCat
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The emphasis of this text is on relevance and application to both managerial and public-policy decision making are focused goals of the book. It shows how microeconomics can be used as a tool for  Read more...

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Document Type: Book
All Authors / Contributors: Robert S Pindyck; Daniel L Rubinfeld
ISBN: 0130165832 9780130165831
OCLC Number: 43684689
Notes: Multi-media teaching aids available to supplement the text.
Description: xxix, 700 p. : col. ill. ; 26 cm.
Contents: Part 1 Introduction: Markets and Prices 1 --
1.1 The Themes of Microeconomics 4 --
1.2 What Is a Market? 7 --
1.3 Real versus Nominal Prices 11 --
2 The Basics of Supply and Demand 19 --
2.2 The Market Mechanism 23 --
2.3 Changes in Market Equilibrium 24 --
2.4 Elasticities of Supply and Demand 30 --
2.5 Short-Run versus Long-Run Elasticities 35 --
2.6 Understanding and Predicting the Effects of Changing Market Conditions 44 --
2.7 Effects of Government Intervention --
Price Controls 53 --
Part 2 Producers, Consumers, and Competitive Markets 59 --
3 Consumer Behavior 61 --
3.1 Consumer Preferences 62 --
3.2 Budget Constraints 75 --
3.3 Consumer Choice 79 --
3.4 Revealed Preference 86 --
3.5 Marginal Utility and Consumer Choice 89 --
3.6 Cost-of-Living Indexes 92 --
4 Individual and Market Demand 101 --
4.1 Individual Demand 102 --
4.2 Income and Substitution Effects 110 --
4.3 Market Demand 116 --
4.4 Consumer Surplus 123 --
4.5 Network Externalities 127 --
4.6 Empirical Estimation of Demand 131 --
Appendix to Chapter 4: Demand Theory --
A Mathematical Treatment 139 --
5 Choice Under Uncertainty 149 --
5.1 Describing Risk 150 --
5.2 Preferences Toward Risk 155 --
5.3 Reducing Risk 161 --
5.4 The Demand for Risky Assets 166 --
6 Production 177 --
6.1 The Technology of Production 178 --
6.2 Isoquants 179 --
6.3 Production with One Variable Input (Labor) 181 --
6.4 Production with Two Variable Inputs 191 --
6.5 Returns to Scale 197 --
7 The Cost of Production 203 --
7.1 Measuring Cost: Which Costs Matter? 203 --
7.2 Cost in the Short Run 208 --
7.3 Cost in the Long Run 215 --
7.4 Long-Run versus Short-Run Cost Curves 224 --
7.5 Production with Two Outputs --
Economies of Scope 229 --
7.6 Dynamic Changes in Costs --
The Learning Curve 232 --
7.7 Estimating and Predicting Cost 237 --
Appendix to Chapter 7: Production and Cost Theory --
A Mathematical Treatment 246 --
8 Profit Maximization and Competitive Supply 251 --
8.1 Perfectly Competitive Markets 252 --
8.2 Profit Maximization 254 --
8.3 Marginal Revenue, Marginal Cost, and Profit Maximization 255 --
8.4 Choosing Output in the Short Run 258 --
8.5 The Competitive Firm's Short-Run Supply Curve 263 --
8.6 The Short-Run Market Supply Curve 266 --
8.7 Choosing Output in the Long Run 271 --
8.8 The Industry's Long-Run Supply Curve 277 --
9 The Analysis of Competitive Markets 287 --
9.1 Evaluating the Gains and Losses from Government Policies --
Consumer and Producer Surplus 288 --
9.2 The Efficiency of a Competitive Market 294 --
9.3 Minimum Prices 298 --
9.4 Price Supports and Production Quotas 302 --
9.5 Import Quotas and Tariffs 309 --
9.6 The Impact of a Tax or Subsidy 313 --
Part 3 Market Structure and Competitive Strategy 325 --
10 Market Power: Monopoly and Monopsony 327 --
10.1 Monopoly 328 --
10.2 Monopoly Power 339 --
10.3 Sources of Monopoly Power 345 --
10.4 The Social Costs of Monopoly Power 347 --
10.5 Monopsony 352 --
10.6 Monopsony Power 355 --
10.7 Limiting Market Power: The Antitrust Laws 359 --
11 Pricing with Market Power 369 --
11.1 Capturing Consumer Surplus 370 --
11.2 Price Discrimination 371 --
11.3 Intertemporal Price Discrimination and Peak-Load Pricing 382 --
11.4 The Two-Part Tariff 385 --
11.5 Bundling 392 --
11.6 Advertising 403 --
Appendix to Chapter 11: Transfer Pricing in the Integrated Firm 413 --
12 Monopolistic Competition and Oligopoly 423 --
12.1 Monopolistic Competition 424 --
12.2 Oligopoly 429 --
12.3 Price Competition 437 --
12.4 Competition versus Collusion: The Prisoners' Dilemma 442 --
12.5 Implications of the Prisoners' Dilemma for Oligopolistic Pricing 445 --
12.6 Cartels 451 --
13 Game Theory and Competitive Strategy 461 --
13.1 Gaming and Strategic Decisions 461 --
13.2 Dominant Strategies 464 --
13.3 The Nash Equilibrium Revisited 466 --
13.4 Repeated Games 472 --
13.5 Sequential Games 476 --
13.6 Threats, Commitments, and Credibility 479 --
13.7 Entry Deterrence 483 --
13.8 Bargaining Strategy 489 --
13.9 Auctions 491 --
14 Markets for Factor Inputs 501 --
14.1 Competitive Factor Markets 501 --
14.2 Equilibrium in a Competitive Factor Market 514 --
14.3 Factor Markets with Monopsony Power 518 --
14.4 Factor Markets with Monopoly Power 523 --
15 Investment, Time, and Capital Markets 533 --
15.1 Stocks versus Flows 534 --
15.2 Present Discounted Value 534 --
15.3 The Value of a Bond 538 --
15.4 The Net Present Value Criterion for Capital Investment Decisions 542 --
15.5 Adjustments for Risk 545 --
15.6 Investment Decisions by Consumers 549 --
15.7 Intertemporal Production Decisions --
Depletable Resources 551 --
15.8 How Are Interest Rates Determined? 555 --
Part 4 Information, Market Failure, and the Role of Government 561 --
16 General Equilibrium and Economic Efficiency 563 --
16.1 General Equilibrium Analysis 563 --
16.2 Efficiency in Exchange 567 --
16.3 Equity and Efficiency 575 --
16.4 Efficiency in Production 578 --
16.5 The Gains from Free Trade 585 --
16.6 An Overview --
The Efficiency of Competitive Markets 590 --
16.7 Why Markets Fail 591 --
17 Markets with Asymmetric Information 595 --
17.1 Quality Uncertainty and the Market for Lemons 596 --
17.2 Market Signaling 601 --
17.3 Moral Hazard 606 --
17.4 The Principal-Agent Problem 609 --
17.5 Managerial Incentives in an Integrated Firm 613 --
17.6 Asymmetric Information in Labor Markets: Efficiency Wage Theory 616 --
18 Externalities and Public Goods 621 --
18.1 Externalities 621 --
18.2 Ways of Correcting Market Failure 625 --
18.3 Externalities and Property Rights 638 --
18.4 Common Property Resources 642 --
18.5 Public Goods 644 --
18.6 Private Preferences for Public Goods 649 --
Appendix The Basics of Regression 655 --
Example 1.1 Markets for Prescription Drugs 10 --
Example 1.2 The Price of Eggs and the Price of a College Education 12 --
Example 1.3 The Minimum Wage 13 --
Example 2.1 The Price of Eggs and the Price of a College Education Revisited 26 --
Example 2.2 Wage Inequality in the United States 27 --
Example 2.3 The Long-Run Behavior of Natural Resource Prices 28 --
Example 2.4 The Market for Wheat 33 --
Example 2.5 The Demand for Gasoline and Automobiles 39 --
Example 2.6 The Weather in Brazil and the Price of Coffee in New York 41 --
Example 2.7 Declining Demand and the Behavior of Copper Prices 47 --
Example 2.8 Upheaval in the World Oil Market 49 --
Example 2.9 Price Controls and Natural Gas Shortages 54 --
Example 3.1 Designing New Automobiles 71 --
Example 3.3 Decision Making and Public Policy 82 --
Example 3.4 A College Trust Fund 85 --
Example 3.5 Revealed Preference for Recreation 88 --
Example 3.6 Gasoline Rationing 91 --
Example 3.7 The Bias in the CPI 97 --
Example 4.1 Consumer Expenditures in the United States 108 --
Example 4.2 The Effects of a Gasoline Tax 114 --
Example 4.3 The Aggregate Demand for Wheat 120 --
Example 4.4 The Demand for Housing 122 --
Example 4.5 The Value of Clean Air 125 --
Example 4.6 Network Externalities and the Demands for Computers and E-Mail 130 --
Example 4.7 The Demand for Ready-to-Eat Cereal 134 --
Example 5.1 Deterring Crime 154 --
Example 5.2 Business Executives and the Choice of Risk 160 --
Example 5.3 The Value of Title Insurance When Buying a House 163 --
Example 5.4 The Value of Information in the Dairy Industry 165 --
Example 5.5 Investing in the Stock Market 173 --
Example 6.1 Malthus and the Food Crisis 187 --
Example 6.2 Labor Productivity and the Standard of Living 189 --
Example 6.3 A Production Function for Wheat 196 --
Example 6.4 Returns to Scale in the Carpet Industry 199 --
Example 7.1 Choosing the Location for a New Law School Building 205 --
Example 7.2 Sunk, Fixed, and Variable Costs: Computers, Software, and Pizzas 207 --
Example 7.3 The Short-Run Cost of Aluminum Smelting 213 --
Example 7.4 The Effect of Effluent Fees on Input Choices 220 --
Example 7.5 Economies of Scope in the Trucking Industry 232 --
Example 7.6 The Learning Curve in Practice 236 --
Example 7.7 Cost Functions for Electric Power 240 --
Example 7.8 A Cost Function for the Savings and Loan Industry 241 --
Example 8.1 The Short-Run Output Decision of an Aluminum Smelting Plant 260 --
Example 8.2 Some Cost Considerations for Managers 261 --
Example 8.3 The Short-Run Production of Petroleum Products 265 --
Example 8.4 The Short-Run World Supply of Copper 268 --
Example 8.5 The Long-Run Supply of Housing 282 --
Example 9.1 Price Controls and Natural Gas Shortages 292 --
Example 9.2 The Market for Human Kidneys 295 --
Example 9.3 Airline Regulation 300 --
Example 9.4 Supporting the Price of Wheat 306 --
Example 9.5 The Sugar Quota 312 --
Example 9.6 A Tax on Gasoline 318 --
Example 10.1 Astra-Merck Prices Prilosec 334 --
Example 10.2 Markup Pricing: Supermarkets to Designer Jeans 342 --
Example 10.3 The Pricing of Prerecorded Videocassettes 343 --
Example 10.4 Monopsony Power in U.S. Manufacturing 358 --
Example 10.5 A Phone Call About Prices 362 --
Example 10.6 The United States versus Microsoft 363 --
Example 11.1 The Economics of Coupons and Rebates 379 --
Example 11.2 Airline Fares 380 --
Example 11.3 How to Price a Best-Selling Novel 384 --
Example 11.4 Polaroid Cameras 389 --
Example 11.5 Pricing Cellular Phone Service 390 --
Example 11.6 The Complete Dinner versus a la Carte: A Restaurant's Pricing Problem 401 --
Example 11.7 Advertising in Practice 406
Series Title: Prentice-Hall series in economics.
Responsibility: Robert S. Pindyck, Daniel L. Rubinfeld.

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A veri good Exp

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