Microeconomics
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TABLE OF CONTENTS
PART I. INTRODUCTION: MICROECONOMICS AND MARKETS
Chapter 1: Preliminaries
Chapter Summary 1
Important Terms 3
Fill-In Review Questions 3
■ Multiple-Choice Review Questions 4
Chapter 2 The Basics of Supply and Demand
Chapter Summary 7
Important Terms C. 10
Fill-In Review Questions 10
Multiple-Choice Review Questions 12
PART II. PRODUCERS, CONSUMERS AND COMPETITIVE MARKETS
Chapter 3 Consumer Behavior
Chapter Summary 15
Important Terms... 18
Fill-In Review Questions 18
Multiple-Choice Review Questions 19
Chapter 4 Individual and Market Demand
Chapter Summary 25
Important Terms 29
Fill-In Review Questions 30
Multiple-Choice Review Questions... 31
Chapter 5 Choice Under Uncertainty
Chapter Summary... 35
Important Terms 37
Fill-In Review Questions........ 37
Multiple-Choice Review Questions... ................................................. 38
Chapter Summary. 41
Important T erms 44
Fill-In Review Questions 44
Multiple-Choice Review Questions 45
Chapter 7 The Cost of Production
Chapter Summary 49
Important Terms 51
Fill-In Review Questions 51
Multiple-Choice Review Questions 54
Chapter 8 Profit Maximization and Competitive Supply
Chapter Summary 57
Important Terms 61
Fill-In Review Questions 61
Multiple-Choice Review Questions 63
Chapter 9 The Analysis of Competitive Markets
Chapter Summary 67
Important Terms 69
Fill-In Review Questions 69
Multiple-Choice Review Questions 70
PART III. MARKET STRUCTURE AND COMPETITIVE STRATEGY
Chapter 10 Market Power: Monopoly and Monopsony
Chapter Summary 73
Important Terms 76
Fill-In Review Questions 76
Multiple-Choice Review Questions 78
Chapter 11 Pricing with Market Power
Chapter Summary 81
Important Terms 83
Fill-In Review Questions 83
Multiple-Choice Review Questions ■ 85
Chapter Summary 89
Important T erms . 92
Fill-In Review Questions 92
Multiple-Choice Review Questions 94
Chapter 13 Game Theory and Competitive Strategy
Chapter Summary 97
Important Terms 99
Fill-In Review Questions 99
Multiple-Choice Review Questions 101
Chapter 14 Markets for Factor Inputs
Chapter Summary 103
Important Terms 107
Fill-In Review Questions 107
Multiple-Choice Review Questions 110
Chapter 15 Investment, Time, and Capital Markets
Chapter Summary 113
Important Terms 117
Fill-In Review Questions 118
Multiple-Choice Review Questions.... 119
PART IV. INFORMATION, MARKET FAILURE, AND THE ROLE OF
GOVERNMENT
Chapter 16 General Equilibrium and Economic Efficiency
Chapter Summary 123
Important Terms... 128
Fill-In Review Questions 128
Multiple-Choice Review Questions .. 130
Chapter 17 Markets with Asymmetric Information
Chapter Summary ' 133
Important Terms 137
Fill-In Review Questions 137
Multiple-Choice Review Questions 139
Chapter Summary 143
Important Terms 147
Fill-In Review Questions 147
Multiple-Choice Review Questions . 149
