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Microeconomics Microeconomics for Today
Microeconomics for Today

Microeconomics for Today Tucker • 9th Edition •

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Ch 1: Introducing the Economic Way of Thinking

Introduction to Economics Three Key Economic Ideas Productive and Allocative Efficiency; Equality Factors of Production Positive and Normative Statements Circular Flow Diagram Graphing Review Percentage and Decimal Review Fractions Review

Ch 2: Production Possibilities, Opportunity Cost, and Economic Growth

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 PPF - The Price of the Trade

Ch 3: Market Demand and Supply

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 Supply and Demand Together: Equilibrium, Shortage, and Surplus Supply and Demand Together: One-sided Shifts Supply and Demand Together: Both Shift Supply and Demand: Quantitative Analysis

Ch 4: Markets In Action

Consumer Surplus and Willingness to Pay Producer Surplus and Willingness to Sell Economic Surplus and Efficiency Quantitative Analysis of Consumer and Producer Surplus at Equilibrium Price Ceilings, Price Floors, and Black Markets Quantitative Analysis of Price Ceilings and Price Floors: Finding Points Quantitative Analysis of Price Ceilings and Price Floors: Finding Areas Externalities: Social Benefits and Social Costs Public Solutions to Externalities

Ch 5: Price Elasticity of Demand and Supply

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 Introducing Taxes and Tax Incidence Elasticity and Taxes

Ch 6: Consumer Choice Theory

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

Ch 7: Production Costs

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 Isoquant Lines Isocost Lines Cost-Minimizing Combination of Labor and Capital

Ch 8: Perfect Competition

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 Individual Supply Curve in the Short Run and Long Run Market Supply Curve in the Short Run and Long Run Long Run Equilibrium Perfect Competition and Efficiency Four Market Model Summary: Perfect Competition

Ch 9: Monopoly

Characteristics of Monopoly Monopoly Revenue Monopoly Profit on the Graph Monopoly Efficiency and Deadweight Loss Price Discrimination Four Market Model Summary: Monopoly

Ch 10: Monopolistic Competition and Oligopoly

Characteristics of Monopolistic Competition Revenue in Monopolistic Competition Monopolistic Competition Profit on the Graph Monopolistic Competition in the Long Run Efficiency in Monopolistic Competition Advertising Four Market Model Summary: Monopolistic Competition

Ch 11: Labor Markets

The Production Function and Marginal Revenue Product Demand for Labor in Perfect Competition Shifts in Labor Demand Supply of Labor in Perfect Competition Shifts in Labor Supply Differences in Wages Discrimination Other Factors of Production: Land and Capital Unions Monopsony Bilateral Monopoly

Ch 12: Income Distribution, Poverty, and Discrimination

Income Inequality in the USA and Worldwide Poverty Polices to Reduce Poverty Lorenz Curve and Gini Coefficient Income Equality and Efficiency

Ch 13: Antitrust and Regulation

Antitrust Laws and Government Regulation of Monopolies Mergers and the Herfindahl-Hirschman Index (HHI)

Ch 14: Environmental Economics

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

Ch 15: International Trade

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