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Microeconomics Modern Principles of Microeconomics
Modern Principles of Microeconomics

Modern Principles of Microeconomics Cowen & Tabarrok • 3rd Edition • 978-1429278416

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Ch. 1 - The Big Ideas

Introduction to Economics Three Key Economic Ideas Productive and Allocative Efficiency; Equality Graphing Review

Ch. 2 - The Power of Trade and Comparative Advantage

Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency PPF - Increasing Marginal Opportunity Costs and Allocative Efficiency PPF - Outward Shifts PPF - Comparative Advantage and Absolute Advantage PPF - Comparative Advantage and Trade

Ch. 3 - Supply and Demand

Introduction to Supply and Demand The Basics of Demand Individual Demand and Market Demand Shifting Demand The Basics of Supply Individual Supply and Market Supply Shifting Supply Big Daddy Shift Summary Consumer Surplus and Willingness to Pay Producer Surplus and Willingness to Sell

Ch. 4 - Equilibrium: How Supply and Demand Determine Price

Supply and Demand Together: Equilibrium, Shortage, and Surplus Supply and Demand Together: One-sided Shifts Supply and Demand Together: Both Shift Economic Surplus and Efficiency

Ch. 5 - Elasticity and Its Application

Percentage Change and Price Elasticity of Demand Elasticity and the Midpoint Method Price Elasticity of Demand on a Graph Determinants of Price Elasticity of Demand Total Revenue Test Total Revenue Along a Linear Demand Curve Income Elasticity of Demand Cross-Price Elasticity of Demand Price Elasticity of Supply Price Elasticity of Supply on a Graph Elasticity Summary

Ch. 6 - Taxes and Subsidies

Introducing Taxes and Tax Incidence Effects of Taxes on a Market Elasticity and Taxes Subsidies

Ch. 8 - Price Ceilings and Floors

Price Ceilings, Price Floors, and Black Markets

Ch. 9 - International Trade

Exporting and Importing Sources of Comparative Advantage Tariffs on Imports Import Quotas and VERs Arguments Against International Trade

Ch. 10 - Externalities: When Prices Send the Wrong Signals

Externalities: Social Benefits and Social Costs Public Solutions to Externalities Private Solutions to Externalities: The Coase Theorem

Ch. 11 - Costs and Profit Maximization Under Competition

Revenue, Cost, and Profit The Production Function and Diminishing Returns Marginal Cost The Relationship Between Average Cost and Marginal Cost Graphing Costs Average Total Cost: Short Run and Long Run Introduction to the Four Market Models Characteristics of Perfect Competition Revenue in Perfect Competition Perfect Competition Profit on the Graph Short Run Shutdown Decision Long Run Entry and Exit Decision Four Market Model Summary: Perfect Competition

Ch. 13 - Monopoly

Average Total Cost: Short Run and Long Run Characteristics of Monopoly Monopoly Revenue Monopoly Profit on the Graph Monopoly Efficiency and Deadweight Loss Antitrust Laws and Government Regulation of Monopolies Four Market Model Summary: Monopoly

Ch. 14 - Price Discrimination

Price Discrimination

Ch. 15 - Cartels, Oligopolies, and Monopolistic Competition

Characteristics of Oligopoly One-Time Games and the Prisoner's Dilemma Game Theory and Oligopoly Profit Four Market Model Summary: Oligopoly Characteristics of Monopolistic Competition Revenue in Monopolistic Competition Monopolistic Competition Profit on the Graph Monopolistic Competition in the Long Run Advertising Four Market Model Summary: Monopolistic Competition

Ch. 17 - Labor Markets

Factors of Production The Production Function and Marginal Revenue Product Supply of Labor in Perfect Competition Differences in Wages Discrimination Unions

Ch. 18 - Public Goods and the Tragedy of the Commons

Four Types of Goods and Two Characteristics The Free Rider Problem and the Tragedy of the Commons

Ch. 19 - Political Economy and Public Choice

Median Voter Theorem Condorcet Voting Paradox

Ch. 20 - Economics, Ethics, and Public Policy

Positive and Normative Statements

Ch. 23 - The Theory of Consumer Choice

Budget Constraint Indifference Curves Indifference Curves for Perfect Substitutes and Perfect Complements Consumer Optimum Consumption: Budget Constraint and Indifference Curves Consumer Optimum Consumption: Marginal Utility per Dollar Spent