Foundations of microeconomics:
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| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Boston [u.a.]
Pearson, Addison Wesley
2009
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| Edition: | 4. ed., internat. ed. |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | Getr. Zählung zahlr. Ill. und graph. Darst. |
| ISBN: | 0321522508 9780321556127 |
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| adam_text | .- ** I FOUNDATIONS OF MICROECONOMICS ROBIN BADE MICHAEL PARKIN
UNIVERSITY OF WESTERN ONTARIO FOURTH EDITION PEARSON ADDISON WESLEY
BOSTON SAN FRANCISCO NEW YORK LONDON TORONTO SYDNEY TOKYO SINGAPORE
MADRID MEXICO CITY MUNICH PARIS CAPE TOWN HONG KONG MONTREAL CONTENTS
PART 1 INTRODUCTION CHAPTER 1 GETTING STARTED 1 CHAPTER CHECKLIST 1 1.1
DEFINITION AND QUESTIONS 2 SCARCITY, 2 ECONOMICS DEFINED, 3 WHAT, HOW,
AND FOR WHOM? 3 WHEN IS THE PURSUIT OF SELF-INTEREST IN THE SOCIAL
INTEREST? 4 CHECKPOINT 1.1 9 1.2 THE ECONOMIC WAY OF THINKING 10 CORE
ECONOMIC IDEAS, 10 RATIONAL CHOICE, 10 COST: WHAT YOU MUST GIVE UP, 11
BENEFIT: GAIN MEASURED BY WHAT YOU ARE WILLING TO GIVE UP, 11 ON THE
MARGIN, 12 RESPONDING TO INCENTIVES, 13 THE MICRO AND MACRO VIEWS OF THE
WORLD, 14 ECONOMICS AS SOCIAL SCIENCE, 15 ECONOMICS AS POLICY TOOL, 16
CHECKPOINT 1.2 18 CHAPTER SUMMARY 19 CHAPTER CHECKPOINT 20 APPENDIX:
MAKING AND USING GRAPHS 23 BASIC IDEA, 23 INTERPRETING DATA GRAPHS, 24
INTERPRETING GRAPHS USED IN ECONOMIC MODELS, 26 THE SLOPE OF A
RELATIONSHIP, 29 RELATIONSHIPS AMONG MORE THAN TWO VARIABLES, 30
APPENDIX CHECKPOINT 32 * EYE ON THE PAST ADAM SMITH AND THE BIRTH OF
ECONOMICS AS A MODERN SOCIAL SCIENCE, 17 2.1 2.2 2.3 CHAPTER 2 THE U.S.
AND GLOBAL ECONOMIES 33 CHAPTER CHECKLIST 33 WHAT, HOW, AND FOR WHOM? 34
WHAT DO WE PRODUCE? 34 HOW DO WE PRODUCE? 36 FOR WHOM DO WE PRODUCE? 39
CHECKPOINT 2.1 41 THE CIRCULAR FLOWS 42 HOUSEHOLDS AND FIRMS, 42
MARKETS, 42 REAL FLOWS AND MONEY FLOWS, 42 GOVERNMENTS, 44 GOVERNMENTS
IN THE CIRCULAR FLOW, 45 FEDERAL GOVERNMENT EXPENDITURES AND REVENUE, 46
STATE AND LOCAL GOVERNMENT EXPENDITURES AND REVENUE, 47 CHECKPOINT 2.2
48 49 50 53 54 THE GLOBAL ECONOMY THE PEOPLE, 49 THE COUNTRIES, 49 WHAT
IN THE GLOBAL ECONOMY? HOW IN THE GLOBAL ECONOMY? FOR WHOM IN THE GLOBAL
ECONOMY? CHECKPOINT 2.3 56 CHAPTER SUMMARY 57 CHAPTER CHECKPOINT 58 *
EYE ON THE PAST CHANGES IN WHAT WE PRODUCE, 36 * EYE ON THE U.S. ECONOMY
CHANGES IN HOW WE PRODUCE IN THE NEW ECONOMY, 38 * EYE ON THE PAST
GROWING GOVERNMENT, 48 3 EYE ON YOUR LIFE THE U.S. AND GLOBAL ECONOMIES
IN YOUR LIFE, 56 CONTENTS CHAPTER 3 THE ECONOMIC PROBLEM 6I CHAPTER
CHECKLIST 61 3.1 PRODUCTION POSSIBILITIES 62 PRODUCTION POSSIBILITIES
FRONTIER, 62 CHECKPOINT 3.1 67 3.2 OPPORTUNITY COST 68 THE OPPORTUNITY
COST OF A CELL PHONE, 68 INCREASING OPPORTUNITY COST, 69 SLOPE OF THE
PPF AND OPPORTUNITY COST, 69 OPPORTUNITY COST IS A RATIO, 70 INCREASING
OPPORTUNITY COSTS ARE EVERYWHERE, 70 CHECKPOINT 3.2 72 3.3 ECONOMIC
GROWTH 73 CHECKPOINT 3.3 74 3.4 SPECIALIZATION AND TRADE 75 COMPARATIVE
ADVANTAGE, 75 ACHIEVING GAINS FROM TRADE, 76 CHECKPOINT 3.4 78 CHAPTER
SUMMARY 79 CHAPTER CHECKPOINT 80 * EYE ON YOUR LIFE YOUR PRODUCTION
POSSIBILITIES FRONTIER, 66 * EYE ON THE U.S. ECONOMY GUNS VERSUS BUTTER,
71 * EYE ON THE GLOBAL ECONOMY HONG KONG S RAPID ECONOMIC GROWTH, 74 *
EYE ON YOUR LIFE YOUR COMPARATIVE ADVANTAGE, 77 ^ CHAPTER 4 DEMAND AND
SUPPLY 83 CHAPTER CHECKLIST 83 COMPETITIVE MARKETS 84 4.1 DEMAND 85 THE
LAW OF DEMAND, 85 DEMAND SCHEDULE AND DEMAND CURVE, 85 INDIVIDUAL DEMAND
AND MARKET DEMAND, 87 CHANGES IN DEMAND, 88 CHANGE IN QUANTITY DEMANDED
VERSUS CHANGE IN DEMAND, 90 CHECKPOINT 4.1 91 4.2 SUPPLY 92 THE LAW OF
SUPPLY, 92 SUPPLY SCHEDULE AND SUPPLY CURVE, 92 INDIVIDUAL SUPPLY AND
MARKET SUPPLY, 94 CHANGES IN SUPPLY, 95 CHANGE IN QUANTITY SUPPLIED
VERSUS CHANGE IN SUPPLY, 97 CHECKPOINT 4.2 98 4.3 MARKET EQUILIBRIUM 99
PRICE: A MARKET S AUTOMATIC REGULATOR, 99 PREDICTING PRICE CHANGES:
THREE QUESTIONS, 100 EFFECTS OF CHANGES IN DEMAND, 101 EFFECTS OF
CHANGES IN SUPPLY, 102 CHANGES IN BOTH DEMAND AND SUPPLY, 104 CHECKPOINT
4.3 106 CHAPTER SUMMARY 107 CHAPTER CHECKPOINT 108 * EYE ON THE GLOBAL
ECONOMY A CHANGE IN THE DEMAND FOR ROSES, 103 * EYE ON THE GLOBAL
ECONOMY A CHANGE IN THE SUPPLY OF FLAT PANEL TVS, 103 B EYE ON YOUR LIFE
USING DEMAND AND SUPPLY, 105 CONTENTS PART 2 A CLOSER LOOK AT MARKETS N
CHAPTER 5 ELASTICITIES OF DEMAND AND SUPPLY CHAPTER CHECKLIST 111 111
112 5.1 THE PRICE ELASTICITY OF DEMAND PERCENTAGE CHANGE IN PRICE, 112
PERCENTAGE CHANGE IN QUANTITY DEMANDED, 113 ELASTIC AND INELASTIC
DEMAND, 114 INFLUENCES ON THE PRICE ELASTICITY OF DEMAND, 114 COMPUTING
THE PRICE ELASTICITY OF DEMAND, 116 INTERPRETING THE PRICE ELASTICITY OF
DEMAND NUMBER, 117 ELASTICITY ALONG A LINEAR DEMAND CURVE, 118 TOTAL
REVENUE AND THE PRICE ELASTICITY OF DEMAND, 120 APPLICATIONS OF THE
PRICE ELASTICITY OF DEMAND, 122 CHECKPOINT 5.1 123 5.2 THE PRICE
ELASTICITY OF SUPPLY 124 ELASTIC AND INELASTIC SUPPLY, 124 INFLUENCES ON
THE PRICE ELASTICITY OF SUPPLY, 124 COMPUTING THE PRICE ELASTICITY OF
SUPPLY, 126 CHECKPOINT 5.2 128 5.3 CROSS ELASTICITY AND INCOME
ELASTICITY 129 CROSS ELASTICITY OF DEMAND, 129 INCOME ELASTICITY OF
DEMAND, 130 CHECKPOINT 5.3 132 CHAPTER SUMMARY 133 CHAPTER CHECKPOINT
134 * EYE ON THE GLOBAL ECONOMY PRICE ELASTICITIES OF DEMAND, 119 * EYE
ON YOUR LIFE YOUR PRICE ELASTICITIES OF DEMAND, 121 * EYE ON THE GLOBAL
ECONOMY INCOME ELASTICITIES OF DEMAND, 131 CHAPTER 6 EFFICIENCY AND
FAIRNESS OF MARKETS 137 CHAPTER CHECKLIST 137 6.1 ALLOCATION METHODS AND
EFFICIENCY 138 RESOURCE ALLOCATION METHODS, 138 USING RESOURCES
EFFICIENTLY, 141 CHECKPOINT 6.1 145 6.2 VALUE, PRICE, AND CONSUMER
SURPLUS 146 DEMAND AND MARGINAL BENEFIT, 146 CONSUMER SURPLUS, 147
CHECKPOINT 6.2 148 6.3 COST, PRICE, AND PRODUCER SURPLUS 149 SUPPLY AND
MARGINAL COST, 149 PRODUCER SURPLUS, 150 CHECKPOINT 6.3 151 6.4 ARE
MARKETS EFFICIENT? 152 MARGINAL BENEFIT EQUALS MARGINAL COST, 152 TOTAL
SURPLUS IS MAXIMIZED, 153 THE INVISIBLE HAND, 153 UNDERPRODUCTION AND
OVERPRODUCTION, 155 OBSTACLES TO EFFICIENCY, 156 ALTERNATIVES TO THE
MARKET, 157 CHECKPOINT 6.4 158 6.5 ARE MARKETS FAIR? 159 IT S NOT FAIR
IF THE RULES AREN T FAIR, 159 IT S NOT FAIR IF THE RESULT ISN T FAIR,
160 PRICE HIKE IN A NATURAL DISASTER: IS IT FAIR? 160 COMPROMISE, 161
CHECKPOINT 6.5 162 CHAPTER SUMMARY 163 CHAPTER CHECKPOINT 164 * EYE ON
THE U.S. ECONOMY THE INVISIBLE HAND AND E-COMMERCE, 154 * EYE ON YOUR
LIFE ALLOCATION METHODS, EFFICIENCY AND FAIRNESS, 161 CONTENTS PART 3
HOW GOVERNMENTS INFLUENCE THE ECONOMY 7.1 7.2 CHAPTER 7 MARKETS IN
ACTION 167 CHAPTER CHECKLIST 167 PRICE CEILINGS 168 A RENT CEILING, 168
ARE RENT CEILINGS EFFICIENT? 172 ARE RENT CEILINGS FAIR? 173 IF RENT
CEILINGS ARE SO BAD, WHY DO WE HAVE THEM? 173 CHECKPOINT 7.1 174 PRICE
FLOORS 175 THE MINIMUM WAGE, 176 IS THE MINIMUM WAGE EFFICIENT? 178 IS
THE MINIMUM WAGE FAIR? 179 IF THE MINIMUM WAGE IS SO BAD, WHY DO WE HAVE
IT? 179 CHECKPOINT 7.2 180 PRICE SUPPORTS IN AGRICULTURE 181 HOW
GOVERNMENTS INTERVENE IN MARKETS FOR FARM PRODUCTS, 181 PRICE SUPPORT:
AN ILLUSTRATION, 181 CHECKPOINT 7.3 184 CHAPTER SUMMARY 185 CHAPTER
CHECKPOINT 186 * EYE ON THE PAST AN EARTHQUAKE AND A RENT CEILING: A
TALE OF TWO ERAS IN ONE CITY, 171 * EYE ON THE U.S. ECONOMY THE FEDERAL
MINIMUM WAGE, 178 U EYE ON YOUR LIFE PRICE CEILINGS AND PRICE FLOORS,
183 7.3 N CHAPTER 8 TAXES 189 CHAPTER CHECKLIST 189 8.1 TAXES ON BUYERS
AND SELLERS 190 TAX INCIDENCE, 190 TAXES AND EFFICIENCY, 191 INCIDENCE,
INEFFICIENCY, AND ELASTICITY, 192 INCIDENCE, INEFFICIENCY, AND THE
ELASTICITY OF DEMAND, 193 INCIDENCE, INEFFICIENCY, AND THE ELASTICITY OF
SUPPLY, 194 CHECKPOINT 8.1 195 8.2 INCOME TAX AND SOCIAL SECURITY TAX
196 THE PERSONAL INCOME TAX, 196 THE EFFECTS OF THE INCOME TAX, 198 THE
SOCIAL SECURITY TAX, 202 CHECKPOINT 8.2 205 8.3 FAIRNESS AND THE BIG
TRADEOFF 206 THE BENEFITS PRINCIPLE, 206 THE ABILITY-TO-PAY PRINCIPLE,
206 THE MARRIAGE TAX PROBLEM, 207 THE BIG TRADEOFF, 208 CHECKPOINT 8.3
208 CHAPTER SUMMARY 209 CHAPTER CHECKPOINT 210 * EYE ON THE U.S. ECONOMY
TAXES IN THE UNITED STATES TODAY, 196 * EYE ON THE U.S. ECONOMY
PRESIDENT BUSH S TAX CUTS, 200 * EYE ON THE PAST THE ORIGINS AND HISTORY
OF THE U.S. INCOME TAX, 204 * EYE ON YOUR LIFE TAX FREEDOM DAY, 204 S
CHAPTER 9 GLOBAL MARKETS IN ACTION 213 CHAPTER CHECKLIST 213 9.1 HOW
GLOBAL MARKETS WORK 214 INTERNATIONAL TRADE TODAY, 214 WHAT DRIVES
INTERNATIONAL TRADE? 214 WHY THE UNITED STATES IMPORTS T-SHIRTS, 216 WHY
THE UNITED STATES EXPORTS AIRPLANES, 217 CHECKPOINT 9.1 218 9.2 WINNERS,
LOSERS, AND NET GAINS FROM TRADES 219 GAINS AND LOSSES FROM IMPORTS, 220
GAINS AND LOSSES FROM EXPORTS, 221 CHECKPOINT 9.2 222 CONTENTS XIII 9.3
INTERNATIONAL TRADE RESTRICTIONS 223 TARIFFS, 223 QUOTAS, 227 OTHER
IMPORT BARRIERS, 229 EXPORT SUBSIDIES, 229 CHECKPOINT 9.3 230 9.4 THE
CASE AGAINST PROTECTION 231 THREE TRADITIONAL ARGUMENTS FOR PROTECTION,
231 FOUR NEWER ARGUMENTS FOR PROTECTION, 233 WHY IS INTERNATIONAL TRADE
RESTRICTED?, 234 CHECKPOINT 9.4 236 CHAPTER SUMMARY 237 CHAPTER
CHECKPOINT 238 * EYE ON THE U.S. ECONOMY U.S. EXPORTS AND IMPORTS, 215 *
EYE ON THE GLOBAL ECONOMY WINNERS AND LOSERS FROM GLOBALIZATION, 219 *
EYE ON THE PAST THE HISTORY OF U.S. TARIFFS, 223 M EYE ON YOUR LIFE
INTERNATIONAL TRADE, 235 CHAPTER 1 0 EXTERNALITIES 241 CHAPTER CHECKLIST
241 EXTERNALITIES IN OUR DAILY LIVES 242 NEGATIVE PRODUCTION
EXTERNALITIES, 242 POSITIVE PRODUCTION EXTERNALITIES, 242 NEGATIVE
CONSUMPTION EXTERNALITIES, 243 POSITIVE CONSUMPTION EXTERNALITIES, 243
10.1 NEGATIVE EXTERNALITIES: POLLUTION 244 PRIVATE COSTS AND SOCIAL
COSTS, 244 PRODUCTION AND POLLUTION: HOW MUCH? 246 PROPERTY RIGHTS, 247
THE COASE THEOREM, 248 GOVERNMENT ACTIONS IN THE FACE OF EXTERNAL COSTS,
250 CHECKPOINT 10.1 253 10.2 POSITIVE EXTERNALITIES: KNOWLEDGE 254
PRIVATE BENEFITS AND SOCIAL BENEFITS, 254 GOVERNMENT ACTIONS IN THE FACE
OF EXTERNAL BENEFITS, 256 CHECKPOINT 10.2 260 CHAPTER SUMMARY 261
CHAPTER CHECKPOINT 262 * EYE ON THE U.S. ECONOMY U.S. AIR POLLUTION
TRENDS, 249 * EYE ON THE GLOBAL ECONOMY GLOBAL TEMPERATURE AND CO2
TRENDS, 249 * EYE ON THE GLOBAL ECONOMY A CARBON FUEL TAX?, 252 * EYE ON
YOUR LIFE EXTERNALITIES IN YOUR LIFE, 252 S CHAPTER 1 1 PUBLIC GOODS AND
COMMON RESOURCES 265 CHAPTER CHECKLIST 265 11.1 CLASSIFYING GOODS AND
RESOURCES 266 EXCLUDABLE, 266 RIVAL, 266 A FOURFOLD CLASSIFICATION, 266
CHECKPOINT 11.1 268 11.2 PUBLIC GOODS AND THE FREE-RIDER PROBLEM 269 THE
FREE-RIDER PROBLEM, 269 THE MARGINAL BENEFIT OF A PUBLIC GOOD, 270 THE
MARGINAL COST OF A PUBLIC GOOD, 270 THE EFFICIENT QUANTITY OF A PUBLIC
GOOD, 272 PRIVATE PROVISION: UNDERPRODUCTION, 272 PUBLIC PROVISION:
EFFICIENT PRODUCTION, 273 PUBLIC PROVISION: OVERPRODUCTION, 274
CHECKPOINT 11.2 277 11.3 COMMON RESOURCES 278 THE TRAGEDY OF THE
COMMONS, 278 THE EFFICIENT USE OF THE COMMONS, 280 ACHIEVING AN
EFFICIENT OUTCOME, 282 CHECKPOINT 11.3 284 CHAPTER SUMMARY 285 CHAPTER
CHECKPOINT 286 * EYE ON THE PAST IS A LIGHTHOUSE A PUBLIC GOOD? 268 *
EYE ON THE PAST DEFENSE SPENDING, 274 H EYE ON YOUR LIFE A STUDENT S
FREE-RIDER PROBLEM, 276 * EYE ON THE PAST THE COMMONS OF ENGLAND S
MIDDLE AGES, 281 CONTENTS PART 4 A CLOSER LOOK AT DECISION MAKERS H
CHAPTER 1 2 CONSUMER CHOICE AND DEMAND 289 CHAPTER CHECKLIST 289 CHAPTER
1 3 PRODUCTION AND COST CHAPTER CHECKLIST 319 319 13.1 290 293 303 12.1
CONSUMPTION POSSIBILITIES THE BUDGET LINE, 290 A CHANGE IN THE BUDGET,
291 CHANGES IN PRICES, 292 PRICES AND THE SLOPE OF THE BUDGET LINE,
CHECKPOINT 12.1 295 12.2 MARGINAL UTILITY THEORY 296 UTILITY, 296 TOTAL
UTILITY, 296 MARGINAL UTILITY, 297 MAXIMIZING TOTAL UTILITY, 300 FINDING
AN INDIVIDUAL DEMAND CURVE, THE POWER OF MARGINAL ANALYSIS, 304 UNITS OF
UTILITY, 304 CHECKPOINT 12.2 305 12.3 EFFICIENCY, PRICE, AND VALUE 306
CONSUMER EFFICIENCY, 306 THE PARADOX OF VALUE, 306 CHECKPOINT 12.3 307
CHAPTER SUMMARY 309 CHAPTER CHECKPOINT 310 APPENDIX: INDIFFERENCE CURVES
313 AN INDIFFERENCE CURVE, 313 MARGINAL RATE OF SUBSTITUTION, 314
CONSUMER EQUILIBRIUM, 315 DERIVING THE DEMAND CURVE, 316 APPENDIX
CHECKPOINT 318 * EYE ON THE U.S. ECONOMY RELATIVE PRICES ON THE MOVE,
294 * EYE ON THE PAST JEREMY BENTHAM, WILLIAM STANLEY JEVONS, AND THE
BIRTH OF UTILITY, 298 * EYE ON THE U.S. ECONOMY MAXIMIZING UTILITY IN
BEVERAGE MARKETS, 308 * EYE ON YOUR LIFE DO YOU MAXIMIZE YOUR UTILITY?
308 ECONOMIC COST AND PROFIT 320 THE FIRM S GOAL, 320 ACCOUNTING COST
AND PROFIT, 320 OPPORTUNITY COST, 320 ECONOMIC PROFIT, 321 CHECKPOINT
13.1 323 SHORT RUN AND LONG RUN 324 13.2 SHORT-RUN PRODUCTION 325 TOTAL
PRODUCT, 325 MARGINAL PRODUCT, 326 AVERAGE PRODUCT, 328 CHECKPOINT 13.2
330 13.3 331 SHORT-RUN COST TOTAL COST, 331 MARGINAL COST, 332 AVERAGE
COST, 333 WHY THE AVERAGE TOTAL COST CURVE IS U-SHAPED, COST CURVES AND
PRODUCT CURVES, 336 SHIFTS IN THE COST CURVES, 336 CHECKPOINT 13.3 338
13.4 LONG-RUN COST 339 PLANT SIZE AND COST, 339 THE LONG-RUN AVERAGE
COST CURVE, 340 CHECKPOINT 13.4 342 CHAPTER SUMMARY 343 CHAPTER
CHECKPOINT 344 * EYE ON YOUR LIFE YOUR AVERAGE AND MARGINAL GRADES, 329
* EYE ON THE U.S. ECONOMY THE ATM AND THE COST OF GETTING CASH, 341 335
CONTENTS PART 5 PRICES, PROFITS, AND INDUSTRY PERFORMANCE N CHAPTER 1 4
MM CHAPTER 1 5 PERFECT COMPETITION 347 SS MONOPOLY 375 CHAPTER CHECKLIST
347 CHAPTER CHECKLIST 375 MARKET TYPES 348 PERFECT COMPETITION, 348
OTHER MARKET TYPES, 348 14.1 A FIRM S PROFIT MAXIMIZING CHOICES 349
PRICE TAKER, 349 REVENUE CONCEPTS, 349 PROFIT-MAXIMIZING OUTPUT, 350
MARGINAL ANALYSIS AND THE SUPPLY DECISION, 352 TEMPORARY SHUTDOWN
DECISION, 353 THE FIRM S SHORT-RUN SUPPLY CURVE, 354 CHECKPOINT 14.1 356
14.2 OUTPUT, PRICE, AND PROFIT IN THE SHORT RUN 357 MARKET SUPPLY IN THE
SHORT RUN, 357 SHORT-RUN EQUILIBRIUM IN NORMAL TIMES, 358 SHORT-RUN
EQUILIBRIUM IN GOOD TIMES, 359 SHORT-RUN EQUILIBRIUM IN BAD TIMES, 360
CHECKPOINT 14.2 361 14.3 OUTPUT, PRICE, AND PROFIT IN THE LONG RUN 362
ENTRY AND EXIT, 363 CHANGE IN DEMAND, 366 TECHNOLOGICAL CHANGE, 366 IS
PERFECT COMPETITION EFFICIENT? 368 IS PERFECT COMPETITION FAIR? 369
CHECKPOINT 14.3 37 0 CHAPTER SUMMARY 371 CHAPTER CHECKPOINT 372 * EYE ON
THE U.S. ECONOMY ENTRY IN PERSONAL COMPUTERS, EXIT IN FARM MACHINES, 365
* EYE ON THE GLOBAL ECONOMY THE NORTH AMERICAN MARKET IN MAPLE SYRUP, *
EYE ON YOUR LIFE THE PERFECT COMPETITION THAT YOU ENCOUNTER, 15.1
MONOPOLY AND HOW IT ARISES 376 HOW MONOPOLY ARISES, 376 MONOPOLY
PRICE-SETTING STRATEGIES, 378 CHECKPOINT 15.1 379 15.2 SINGLE-PRICE
MONOPOLY 380 PRICE AND MARGINAL REVENUE, 380 MARGINAL REVENUE AND
ELASTICITY, 381 OUTPUT AND PRICE DECISION, 382 CHECKPOINT 15.2 384 15.3
MONOPOLY AND COMPETITION COMPARED 385 OUTPUT AND PRICE, 385 IS MONOPOLY
EFFICIENT? 386 IS MONOPOLY FAIR? 387 RENT SEEKING, 388 CHECKPOINT 15.3
389 15.4 PRICE DISCRIMINATION 390 PRICE DISCRIMINATION AND CONSUMER
SURPLUS, PROFITING BY PRICE DISCRIMINATING, 391 PERFECT PRICE
DISCRIMINATION, 392 PRICE DISCRIMINATION AND EFFICIENCY, 394 CHECKPOINT
15.4 395 15.5 MONOPOLY REGULATION 396 EFFICIENT REGULATION OF A NATURAL
MONOPOLY, SECOND-BEST REGULATION OF A NATURAL MONOPOLY, 399 CHECKPOINT
15.5 402 CHAPTER SUMMARY 403 CHAPTER CHECKPOINT 404 * EYE ON THE U.S.
ECONOMY AIRLINE PRICE DISCRIMINATION, 394 * EYE ON THE U.S. ECONOMY 367
REGULATORY ROLLER COASTER, 396 B EYE ON YOUR LIFE 369 MONOPOLY IN YOUR
EVERYDAY LIFE, 397 * EYE ON THE U.S. ECONOMY AIRLINE DEREGULATION, 400
390 397 XVI CONTENTS CHAPTER 1 6 MONOPOLISTIC COMPETITION 407 CHAPTER
CHECKLIST 407 16.1 WHAT IS MONOPOLISTIC COMPETITION? 408 LARGE NUMBER OF
FIRMS, 408 PRODUCT DIFFERENTIATION, 408 COMPETING ON QUALITY, PRICE, AND
MARKETING, 408 ENTRY AND EXIT, 409 IDENTIFYING MONOPOLISTIC COMPETITION,
409 CHECKPOINT 16.1 413 16.2 OUTPUT AND PRICE DECISIONS 414 THE FIRM S
PROFIT-MAXIMIZING DECISION, 414 PROFIT MAXIMIZING MIGHT BE LOSS
MINIMIZING, 415 LONG RUN: ZERO ECONOMIC PROFIT, 416 MONOPOLISTIC
COMPETITION AND PERFECT COMPETITION, 417 IS MONOPOLISTIC COMPETITION
EFFICIENT? 418 CHECKPOINT 16.2 419 16.3 PRODUCT DEVELOPMENT AND
MARKETING 420 INNOVATION AND PRODUCT DEVELOPMENT, 420 ADVERTISING, 421
SELLING COSTS AND TOTAL COSTS, 422 USING ADVERTISING TO SIGNAL QUALITY,
424 BRAND NAMES, 425 EFFICIENCY OF ADVERTISING AND BRAND NAMES, 425
CHECKPOINT 16.3 426 CHAPTER SUMMARY 427 CHAPTER CHECKPOINT 428 * EYE ON
THE U.S. ECONOMY EXAMPLES OF MONOPOLISTIC COMPETITION, 412 * EYE ON THE
U.S. ECONOMY HOW MUCH IS SPENT ON ADVERTISING? 421 B EYE ON YOUR LIFE
SOME SELLING COSTS YOU PAY, 424 CHAPTER 1 7 OLIGOPOLY 431 CHAPTER
CHECKLIST 431 17.1 WHAT IS OLIGOPOLY? 432 SMALL NUMBER OF FIRMS, 432
BARRIERS TO ENTRY, 432 IDENTIFYING OLIGOPOLY, 434 CHECKPOINT 17.1 435
17.2 THE OLIGOPOLIST S DILEMMA 436 MONOPOLY OUTCOME, 436 PERFECT
COMPETITION OUTCOME, 437 OTHER POSSIBLE CARTEL BREAKDOWNS, 437 THE
OLIGOPOLY CARTEL DILEMMA, 438 CHECKPOINT 17.2 440 17.3 GAME THEORY 441
WHAT IS A GAME? 441 THE PRISONERS DILEMMA, 441 THE DUOPOLIST S DILEMMA,
443 ADVERTISING AND RESEARCH GAMES IN OLIGOPOLY, REPEATED GAMES, 446 IS
OLIGOPOLY EFFICIENT? 446 CHECKPOINT 17.3 448 17.4 ANTITRUST LAW 449 THE
ANTITRUST LAWS, 449 THREE ANTITRUST POLICY DEBATES, 449 MERGER RULES,
452 CHECKPOINT 17.4 45 4 CHAPTER SUMMARY 455 CHAPTER CHECKPOINT 456 *
EYE ON THE U.S. ECONOMY EXAMPLES OF OLIGOPOLY, 433 * EYE ON THE GLOBAL
ECONOMY THE OPEC GLOBAL OIL CARTEL, 439 * EYE ON YOUR LIFE A GAME YOU
MIGHT PLAY, 447 * EYE ON THE GLOBAL ECONOMY DUOPOLY IN CPUS, 447 * EYE
ON THE U.S. ECONOMY NO SODA MERGER, 453 444 CONTENTS XVII PART 6
INCOMES, UNCERTAINTY, AND INEQUALITY 18.1 18.2 CHAPTER 1 8 MARKETS FOR
FACTORS OF PRODUCTION 459 CHAPTER CHECKLIST 459 THE ANATOMY OF FACTOR
MARKETS 460 THE DEMAND FOR A FACTOR OF PRODUCTION 461 VALUE OF MARGINAL
PRODUCT, 461 A FIRM S DEMAND FOR LABOR, 462 A FIRM S DEMAND FOR LABOR
CURVE, 463 CHANGES IN THE DEMAND FOR LABOR, 464 CHECKPOINT 18.1 465
LABOR MARKETS 466 THE SUPPLY OF LABOR, 466 INFLUENCES ON THE SUPPLY OF
LABOR, 467 COMPETITIVE LABOR MARKET EQUILIBRIUM, 468 LABOR UNIONS, 470
CHECKPOINT 18.2 472 18.3 CAPITAL AND NATURAL RESOURCE MARKETS 473
CAPITAL MARKETS, 473 LAND MARKETS, 474 NONRENEWABLE NATURAL RESOURCE
MARKETS, 475 CHECKPOINT 18.3 478 CHAPTER SUMMARY 479 CHAPTER CHECKPOINT
480 * EYE ON THE U.S. ECONOMY REALLOCATING LABOR, 469 * EYE ON YOUR LIFE
JOB CHOICE AND INCOME PROSPECTS, 475 * EYE ON THE GLOBAL ECONOMY OIL AND
METAL PRICES, 476 19.1 CHAPTER 1 9 UNCERTAINTY AND INFORMATION 483
CHAPTER CHECKLIST 483 DECISIONS IN THE FACE OF UNCERTAINTY 484 EXPECTED
WEALTH, 484 RISK AVERSION, 484 UTILITY OF WEALTH, 485 EXPECTED UTILITY,
486 MAKING A CHOICE WITH UNCERTAINTY, 487 CHECKPOINT 19.1 488 19.2
BUYING AND SELLING RISK 489 INSURANCE MARKETS, 489 A GRAPHICAL ANALYSIS
OF INSURANCE, CHECKPOINT 19.2 493 491 19.3 PRIVATE INFORMATION 494
ASYMMETRIC INFORMATION: EXAMPLES AND PROBLEMS, 494 THE MARKET FOR USED
CARS, 495 THE MARKET FOR LOANS, 498 THE MARKET FOR INSURANCE, 501
CHECKPOINT 19.3 502 CHAPTER SUMMARY 503 CHAPTER CHECKPOINT 504 * EYE ON
THE U.S. ECONOMY INSURANCE IN THE UNITED STATES 490 * EYE ON THE U.S.
ECONOMY THE SUB-PRIME MORTGAGE CRISIS AND THE 2007 HOUSING CREDIT
CRUNCH, 499 B EYE ON YOUR LIFE SIGNALING YOUR ABILITY, 501 XVIII
CONTENTS CHAPTER 20 INEQUALITY AND POVERTY 507 CHAPTER CHECKLIST 507
20.1 ECONOMIC INEQUALITY IN THE UNITED STATES 508 LORENZ CURVES, 508
INEQUALITY OVER TIME, 509 ECONOMIC MOBILITY, 510 WHO ARE THE RICH AND
THE POOR? 512 POVERTY, 513 CHECKPOINT 20.1 515 20.2 HOW INEQUALITY AND
POVERTY ARISE 516 HUMAN CAPITAL, 516 DISCRIMINATION, 519 FINANCIAL AND
PHYSICAL CAPITAL, 520 ENTREPRENEURIAL ABILITY, 520 PERSONAL AND FAMILY
CHARACTERISTICS, 520 CHECKPOINT 20.2 521 20.3 INCOME REDISTRIBUTION 522
HOW GOVERNMENTS REDISTRIBUTE INCOME, THE SCALE OF INCOME REDISTRIBUTION,
523 WHY WE REDISTRIBUTE INCOME, 525 THE MAJOR WELFARE CHALLENGE, 526
CHECKPOINT 20.3 528 CHAPTER SUMMARY 529 CHAPTER CHECKPOINT 530 * EYE ON
THE GLOBAL ECONOMY GLOBAL INEQUALITY, 510 * EYE ON THE U.S. ECONOMY DOES
EDUCATION PAY? 518 * EYE ON THE U.S. ECONOMY SEX AND RACE EARNINGS
DIFFERENCES, 519 M EYE ON YOUR LIFE WHAT YOU PAY AND GAIN THROUGH
REDISTRIBUTION, GLOSSARY G-L INDEX 1-1 CREDITS C-L 527 522
|
| adam_txt |
.-'** I FOUNDATIONS OF MICROECONOMICS ROBIN BADE MICHAEL PARKIN
UNIVERSITY OF WESTERN ONTARIO FOURTH EDITION PEARSON ADDISON WESLEY
BOSTON SAN FRANCISCO NEW YORK LONDON TORONTO SYDNEY TOKYO SINGAPORE
MADRID MEXICO CITY MUNICH PARIS CAPE TOWN HONG KONG MONTREAL CONTENTS
PART 1 INTRODUCTION CHAPTER 1 GETTING STARTED 1 CHAPTER CHECKLIST 1 1.1
DEFINITION AND QUESTIONS 2 SCARCITY, 2 ECONOMICS DEFINED, 3 WHAT, HOW,
AND FOR WHOM? 3 WHEN IS THE PURSUIT OF SELF-INTEREST IN THE SOCIAL
INTEREST? 4 CHECKPOINT 1.1 9 1.2 THE ECONOMIC WAY OF THINKING 10 CORE
ECONOMIC IDEAS, 10 RATIONAL CHOICE, 10 COST: WHAT YOU MUST GIVE UP, 11
BENEFIT: GAIN MEASURED BY WHAT YOU ARE WILLING TO GIVE UP, 11 ON THE
MARGIN, 12 RESPONDING TO INCENTIVES, 13 THE MICRO AND MACRO VIEWS OF THE
WORLD, 14 ECONOMICS AS SOCIAL SCIENCE, 15 ECONOMICS AS POLICY TOOL, 16
CHECKPOINT 1.2 18 CHAPTER SUMMARY 19 CHAPTER CHECKPOINT 20 APPENDIX:
MAKING AND USING GRAPHS 23 BASIC IDEA, 23 INTERPRETING DATA GRAPHS, 24
INTERPRETING GRAPHS USED IN ECONOMIC MODELS, 26 THE SLOPE OF A
RELATIONSHIP, 29 RELATIONSHIPS AMONG MORE THAN TWO VARIABLES, 30
APPENDIX CHECKPOINT 32 * EYE ON THE PAST ADAM SMITH AND THE BIRTH OF
ECONOMICS AS A MODERN SOCIAL SCIENCE, 17 2.1 2.2 2.3 CHAPTER 2 THE U.S.
AND GLOBAL ECONOMIES 33 CHAPTER CHECKLIST 33 WHAT, HOW, AND FOR WHOM? 34
WHAT DO WE PRODUCE? 34 HOW DO WE PRODUCE? 36 FOR WHOM DO WE PRODUCE? 39
CHECKPOINT 2.1 41 THE CIRCULAR FLOWS 42 HOUSEHOLDS AND FIRMS, 42
MARKETS, 42 REAL FLOWS AND MONEY FLOWS, 42 GOVERNMENTS, 44 GOVERNMENTS
IN THE CIRCULAR FLOW, 45 FEDERAL GOVERNMENT EXPENDITURES AND REVENUE, 46
STATE AND LOCAL GOVERNMENT EXPENDITURES AND REVENUE, 47 CHECKPOINT 2.2
48 49 50 53 54 THE GLOBAL ECONOMY THE PEOPLE, 49 THE COUNTRIES, 49 WHAT
IN THE GLOBAL ECONOMY? HOW IN THE GLOBAL ECONOMY? FOR WHOM IN THE GLOBAL
ECONOMY? CHECKPOINT 2.3 56 CHAPTER SUMMARY 57 CHAPTER CHECKPOINT 58 *
EYE ON THE PAST CHANGES IN WHAT WE PRODUCE, 36 * EYE ON THE U.S. ECONOMY
CHANGES IN HOW WE PRODUCE IN THE NEW ECONOMY, 38 * EYE ON THE PAST
GROWING GOVERNMENT, 48 3 EYE ON YOUR LIFE THE U.S. AND GLOBAL ECONOMIES
IN YOUR LIFE, 56 CONTENTS CHAPTER 3 THE ECONOMIC PROBLEM 6I CHAPTER
CHECKLIST 61 3.1 PRODUCTION POSSIBILITIES 62 PRODUCTION POSSIBILITIES
FRONTIER, 62 CHECKPOINT 3.1 67 3.2 OPPORTUNITY COST 68 THE OPPORTUNITY
COST OF A CELL PHONE, 68 INCREASING OPPORTUNITY COST, 69 SLOPE OF THE
PPF AND OPPORTUNITY COST, 69 OPPORTUNITY COST IS A RATIO, 70 INCREASING
OPPORTUNITY COSTS ARE EVERYWHERE, 70 CHECKPOINT 3.2 72 3.3 ECONOMIC
GROWTH 73 CHECKPOINT 3.3 74 3.4 SPECIALIZATION AND TRADE 75 COMPARATIVE
ADVANTAGE, 75 ACHIEVING GAINS FROM TRADE, 76 CHECKPOINT 3.4 78 CHAPTER
SUMMARY 79 CHAPTER CHECKPOINT 80 * EYE ON YOUR LIFE YOUR PRODUCTION
POSSIBILITIES FRONTIER, 66 * EYE ON THE U.S. ECONOMY GUNS VERSUS BUTTER,
71 * EYE ON THE GLOBAL ECONOMY HONG KONG'S RAPID ECONOMIC GROWTH, 74 *
EYE ON YOUR LIFE YOUR COMPARATIVE ADVANTAGE, 77 ^ CHAPTER 4 DEMAND AND
SUPPLY 83 CHAPTER CHECKLIST 83 COMPETITIVE MARKETS 84 4.1 DEMAND 85 THE
LAW OF DEMAND, 85 DEMAND SCHEDULE AND DEMAND CURVE, 85 INDIVIDUAL DEMAND
AND MARKET DEMAND, 87 CHANGES IN DEMAND, 88 CHANGE IN QUANTITY DEMANDED
VERSUS CHANGE IN DEMAND, 90 CHECKPOINT 4.1 91 4.2 SUPPLY 92 THE LAW OF
SUPPLY, 92 SUPPLY SCHEDULE AND SUPPLY CURVE, 92 INDIVIDUAL SUPPLY AND
MARKET SUPPLY, 94 CHANGES IN SUPPLY, 95 CHANGE IN QUANTITY SUPPLIED
VERSUS CHANGE IN SUPPLY, 97 CHECKPOINT 4.2 98 4.3 MARKET EQUILIBRIUM 99
PRICE: A MARKET'S AUTOMATIC REGULATOR, 99 PREDICTING PRICE CHANGES:
THREE QUESTIONS, 100 EFFECTS OF CHANGES IN DEMAND, 101 EFFECTS OF
CHANGES IN SUPPLY, 102 CHANGES IN BOTH DEMAND AND SUPPLY, 104 CHECKPOINT
4.3 106 CHAPTER SUMMARY 107 CHAPTER CHECKPOINT 108 * EYE ON THE GLOBAL
ECONOMY A CHANGE IN THE DEMAND FOR ROSES, 103 * EYE ON THE GLOBAL
ECONOMY A CHANGE IN THE SUPPLY OF FLAT PANEL TVS, 103 B EYE ON YOUR LIFE
USING DEMAND AND SUPPLY, 105 CONTENTS PART 2 A CLOSER LOOK AT MARKETS N
CHAPTER 5 ELASTICITIES OF DEMAND AND SUPPLY CHAPTER CHECKLIST 111 111
112 5.1 THE PRICE ELASTICITY OF DEMAND PERCENTAGE CHANGE IN PRICE, 112
PERCENTAGE CHANGE IN QUANTITY DEMANDED, 113 ELASTIC AND INELASTIC
DEMAND, 114 INFLUENCES ON THE PRICE ELASTICITY OF DEMAND, 114 COMPUTING
THE PRICE ELASTICITY OF DEMAND, 116 INTERPRETING THE PRICE ELASTICITY OF
DEMAND NUMBER, 117 ELASTICITY ALONG A LINEAR DEMAND CURVE, 118 TOTAL
REVENUE AND THE PRICE ELASTICITY OF DEMAND, 120 APPLICATIONS OF THE
PRICE ELASTICITY OF DEMAND, 122 CHECKPOINT 5.1 123 5.2 THE PRICE
ELASTICITY OF SUPPLY 124 ELASTIC AND INELASTIC SUPPLY, 124 INFLUENCES ON
THE PRICE ELASTICITY OF SUPPLY, 124 COMPUTING THE PRICE ELASTICITY OF
SUPPLY, 126 CHECKPOINT 5.2 128 5.3 CROSS ELASTICITY AND INCOME
ELASTICITY 129 CROSS ELASTICITY OF DEMAND, 129 INCOME ELASTICITY OF
DEMAND, 130 CHECKPOINT 5.3 132 CHAPTER SUMMARY 133 CHAPTER CHECKPOINT
134 * EYE ON THE GLOBAL ECONOMY PRICE ELASTICITIES OF DEMAND, 119 * EYE
ON YOUR LIFE YOUR PRICE ELASTICITIES OF DEMAND, 121 * EYE ON THE GLOBAL
ECONOMY INCOME ELASTICITIES OF DEMAND, 131 CHAPTER 6 EFFICIENCY AND
FAIRNESS OF MARKETS 137 CHAPTER CHECKLIST 137 6.1 ALLOCATION METHODS AND
EFFICIENCY 138 RESOURCE ALLOCATION METHODS, 138 USING RESOURCES
EFFICIENTLY, 141 CHECKPOINT 6.1 145 6.2 VALUE, PRICE, AND CONSUMER
SURPLUS 146 DEMAND AND MARGINAL BENEFIT, 146 CONSUMER SURPLUS, 147
CHECKPOINT 6.2 148 6.3 COST, PRICE, AND PRODUCER SURPLUS 149 SUPPLY AND
MARGINAL COST, 149 PRODUCER SURPLUS, 150 CHECKPOINT 6.3 151 6.4 ARE
MARKETS EFFICIENT? 152 MARGINAL BENEFIT EQUALS MARGINAL COST, 152 TOTAL
SURPLUS IS MAXIMIZED, 153 THE INVISIBLE HAND, 153 UNDERPRODUCTION AND
OVERPRODUCTION, 155 OBSTACLES TO EFFICIENCY, 156 ALTERNATIVES TO THE
MARKET, 157 CHECKPOINT 6.4 158 6.5 ARE MARKETS FAIR? 159 IT'S NOT FAIR
IF THE RULES AREN'T FAIR, 159 IT'S NOT FAIR IF THE RESULT ISN'T FAIR,
160 PRICE HIKE IN A NATURAL DISASTER: IS IT FAIR? 160 COMPROMISE, 161
CHECKPOINT 6.5 162 CHAPTER SUMMARY 163 CHAPTER CHECKPOINT 164 * EYE ON
THE U.S. ECONOMY THE INVISIBLE HAND AND E-COMMERCE, 154 * EYE ON YOUR
LIFE ALLOCATION METHODS, EFFICIENCY AND FAIRNESS, 161 CONTENTS PART 3
HOW GOVERNMENTS INFLUENCE THE ECONOMY 7.1 7.2 CHAPTER 7 MARKETS IN
ACTION 167 CHAPTER CHECKLIST 167 PRICE CEILINGS 168 A RENT CEILING, 168
ARE RENT CEILINGS EFFICIENT? 172 ARE RENT CEILINGS FAIR? 173 IF RENT
CEILINGS ARE SO BAD, WHY DO WE HAVE THEM? 173 CHECKPOINT 7.1 174 PRICE
FLOORS 175 THE MINIMUM WAGE, 176 IS THE MINIMUM WAGE EFFICIENT? 178 IS
THE MINIMUM WAGE FAIR? 179 IF THE MINIMUM WAGE IS SO BAD, WHY DO WE HAVE
IT? 179 CHECKPOINT 7.2 180 PRICE SUPPORTS IN AGRICULTURE 181 HOW
GOVERNMENTS INTERVENE IN MARKETS FOR FARM PRODUCTS, 181 PRICE SUPPORT:
AN ILLUSTRATION, 181 CHECKPOINT 7.3 184 CHAPTER SUMMARY 185 CHAPTER
CHECKPOINT 186 * EYE ON THE PAST AN EARTHQUAKE AND A RENT CEILING: A
TALE OF TWO ERAS IN ONE CITY, 171 * EYE ON THE U.S. ECONOMY THE FEDERAL
MINIMUM WAGE, 178 U EYE ON YOUR LIFE PRICE CEILINGS AND PRICE FLOORS,
183 7.3 N CHAPTER 8 TAXES 189 CHAPTER CHECKLIST 189 8.1 TAXES ON BUYERS
AND SELLERS 190 TAX INCIDENCE, 190 TAXES AND EFFICIENCY, 191 INCIDENCE,
INEFFICIENCY, AND ELASTICITY, 192 INCIDENCE, INEFFICIENCY, AND THE
ELASTICITY OF DEMAND, 193 INCIDENCE, INEFFICIENCY, AND THE ELASTICITY OF
SUPPLY, 194 CHECKPOINT 8.1 195 8.2 INCOME TAX AND SOCIAL SECURITY TAX
196 THE PERSONAL INCOME TAX, 196 THE EFFECTS OF THE INCOME TAX, 198 THE
SOCIAL SECURITY TAX, 202 CHECKPOINT 8.2 205 8.3 FAIRNESS AND THE BIG
TRADEOFF 206 THE BENEFITS PRINCIPLE, 206 THE ABILITY-TO-PAY PRINCIPLE,
206 THE MARRIAGE TAX PROBLEM, 207 THE BIG TRADEOFF, 208 CHECKPOINT 8.3
208 CHAPTER SUMMARY 209 CHAPTER CHECKPOINT 210 * EYE ON THE U.S. ECONOMY
TAXES IN THE UNITED STATES TODAY, 196 * EYE ON THE U.S. ECONOMY
PRESIDENT BUSH'S TAX CUTS, 200 * EYE ON THE PAST THE ORIGINS AND HISTORY
OF THE U.S. INCOME TAX, 204 * EYE ON YOUR LIFE TAX FREEDOM DAY, 204 S
CHAPTER 9 GLOBAL MARKETS IN ACTION 213 CHAPTER CHECKLIST 213 9.1 HOW
GLOBAL MARKETS WORK 214 INTERNATIONAL TRADE TODAY, 214 WHAT DRIVES
INTERNATIONAL TRADE? 214 WHY THE UNITED STATES IMPORTS T-SHIRTS, 216 WHY
THE UNITED STATES EXPORTS AIRPLANES, 217 CHECKPOINT 9.1 218 9.2 WINNERS,
LOSERS, AND NET GAINS FROM TRADES 219 GAINS AND LOSSES FROM IMPORTS, 220
GAINS AND LOSSES FROM EXPORTS, 221 CHECKPOINT 9.2 222 CONTENTS XIII 9.3
INTERNATIONAL TRADE RESTRICTIONS 223 TARIFFS, 223 QUOTAS, 227 OTHER
IMPORT BARRIERS, 229 EXPORT SUBSIDIES, 229 CHECKPOINT 9.3 230 9.4 THE
CASE AGAINST PROTECTION 231 THREE TRADITIONAL ARGUMENTS FOR PROTECTION,
231 FOUR NEWER ARGUMENTS FOR PROTECTION, 233 WHY IS INTERNATIONAL TRADE
RESTRICTED?, 234 CHECKPOINT 9.4 236 CHAPTER SUMMARY 237 CHAPTER
CHECKPOINT 238 * EYE ON THE U.S. ECONOMY U.S. EXPORTS AND IMPORTS, 215 *
EYE ON THE GLOBAL ECONOMY WINNERS AND LOSERS FROM GLOBALIZATION, 219 *
EYE ON THE PAST THE HISTORY OF U.S. TARIFFS, 223 M EYE ON YOUR LIFE
INTERNATIONAL TRADE, 235 CHAPTER 1 0 EXTERNALITIES 241 CHAPTER CHECKLIST
241 EXTERNALITIES IN OUR DAILY LIVES 242 NEGATIVE PRODUCTION
EXTERNALITIES, 242 POSITIVE PRODUCTION EXTERNALITIES, 242 NEGATIVE
CONSUMPTION EXTERNALITIES, 243 POSITIVE CONSUMPTION EXTERNALITIES, 243
10.1 NEGATIVE EXTERNALITIES: POLLUTION 244 PRIVATE COSTS AND SOCIAL
COSTS, 244 PRODUCTION AND POLLUTION: HOW MUCH? 246 PROPERTY RIGHTS, 247
THE COASE THEOREM, 248 GOVERNMENT ACTIONS IN THE FACE OF EXTERNAL COSTS,
250 CHECKPOINT 10.1 253 10.2 POSITIVE EXTERNALITIES: KNOWLEDGE 254
PRIVATE BENEFITS AND SOCIAL BENEFITS, 254 GOVERNMENT ACTIONS IN THE FACE
OF EXTERNAL BENEFITS, 256 CHECKPOINT 10.2 260 CHAPTER SUMMARY 261
CHAPTER CHECKPOINT 262 * EYE ON THE U.S. ECONOMY U.S. AIR POLLUTION
TRENDS, 249 * EYE ON THE GLOBAL ECONOMY GLOBAL TEMPERATURE AND CO2
TRENDS, 249 * EYE ON THE GLOBAL ECONOMY A CARBON FUEL TAX?, 252 * EYE ON
YOUR LIFE EXTERNALITIES IN YOUR LIFE, 252 S CHAPTER 1 1 PUBLIC GOODS AND
COMMON RESOURCES 265 CHAPTER CHECKLIST 265 11.1 CLASSIFYING GOODS AND
RESOURCES 266 EXCLUDABLE, 266 RIVAL, 266 A FOURFOLD CLASSIFICATION, 266
CHECKPOINT 11.1 268 11.2 PUBLIC GOODS AND THE FREE-RIDER PROBLEM 269 THE
FREE-RIDER PROBLEM, 269 THE MARGINAL BENEFIT OF A PUBLIC GOOD, 270 THE
MARGINAL COST OF A PUBLIC GOOD, 270 THE EFFICIENT QUANTITY OF A PUBLIC
GOOD, 272 PRIVATE PROVISION: UNDERPRODUCTION, 272 PUBLIC PROVISION:
EFFICIENT PRODUCTION, 273 PUBLIC PROVISION: OVERPRODUCTION, 274
CHECKPOINT 11.2 277 11.3 COMMON RESOURCES 278 THE TRAGEDY OF THE
COMMONS, 278 THE EFFICIENT USE OF THE COMMONS, 280 ACHIEVING AN
EFFICIENT OUTCOME, 282 CHECKPOINT 11.3 284 CHAPTER SUMMARY 285 CHAPTER
CHECKPOINT 286 * EYE ON THE PAST IS A LIGHTHOUSE A PUBLIC GOOD? 268 *
EYE ON THE PAST DEFENSE SPENDING, 274 H EYE ON YOUR LIFE A STUDENT'S
FREE-RIDER PROBLEM, 276 * EYE ON THE PAST THE COMMONS OF ENGLAND'S
MIDDLE AGES, 281 CONTENTS PART 4 A CLOSER LOOK AT DECISION MAKERS H
CHAPTER 1 2 CONSUMER CHOICE AND DEMAND 289 CHAPTER CHECKLIST 289 CHAPTER
1 3 PRODUCTION AND COST CHAPTER CHECKLIST 319 319 13.1 290 293 303 12.1
CONSUMPTION POSSIBILITIES THE BUDGET LINE, 290 A CHANGE IN THE BUDGET,
291 CHANGES IN PRICES, 292 PRICES AND THE SLOPE OF THE BUDGET LINE,
CHECKPOINT 12.1 295 12.2 MARGINAL UTILITY THEORY 296 UTILITY, 296 TOTAL
UTILITY, 296 MARGINAL UTILITY, 297 MAXIMIZING TOTAL UTILITY, 300 FINDING
AN INDIVIDUAL DEMAND CURVE, THE POWER OF MARGINAL ANALYSIS, 304 UNITS OF
UTILITY, 304 CHECKPOINT 12.2 305 12.3 EFFICIENCY, PRICE, AND VALUE 306
CONSUMER EFFICIENCY, 306 THE PARADOX OF VALUE, 306 CHECKPOINT 12.3 307
CHAPTER SUMMARY 309 CHAPTER CHECKPOINT 310 APPENDIX: INDIFFERENCE CURVES
313 AN INDIFFERENCE CURVE, 313 MARGINAL RATE OF SUBSTITUTION, 314
CONSUMER EQUILIBRIUM, 315 DERIVING THE DEMAND CURVE, 316 APPENDIX
CHECKPOINT 318 * EYE ON THE U.S. ECONOMY RELATIVE PRICES ON THE MOVE,
294 * EYE ON THE PAST JEREMY BENTHAM, WILLIAM STANLEY JEVONS, AND THE
BIRTH OF UTILITY, 298 * EYE ON THE U.S. ECONOMY MAXIMIZING UTILITY IN
BEVERAGE MARKETS, 308 * EYE ON YOUR LIFE DO YOU MAXIMIZE YOUR UTILITY?
308 ECONOMIC COST AND PROFIT 320 THE FIRM'S GOAL, 320 ACCOUNTING COST
AND PROFIT, 320 OPPORTUNITY COST, 320 ECONOMIC PROFIT, 321 CHECKPOINT
13.1 323 SHORT RUN AND LONG RUN 324 13.2 SHORT-RUN PRODUCTION 325 TOTAL
PRODUCT, 325 MARGINAL PRODUCT, 326 AVERAGE PRODUCT, 328 CHECKPOINT 13.2
330 13.3 331 SHORT-RUN COST TOTAL COST, 331 MARGINAL COST, 332 AVERAGE
COST, 333 WHY THE AVERAGE TOTAL COST CURVE IS U-SHAPED, COST CURVES AND
PRODUCT CURVES, 336 SHIFTS IN THE COST CURVES, 336 CHECKPOINT 13.3 338
13.4 LONG-RUN COST 339 PLANT SIZE AND COST, 339 THE LONG-RUN AVERAGE
COST CURVE, 340 CHECKPOINT 13.4 342 CHAPTER SUMMARY 343 CHAPTER
CHECKPOINT 344 * EYE ON YOUR LIFE YOUR AVERAGE AND MARGINAL GRADES, 329
* EYE ON THE U.S. ECONOMY THE ATM AND THE COST OF GETTING CASH, 341 335
CONTENTS PART 5 PRICES, PROFITS, AND INDUSTRY PERFORMANCE N CHAPTER 1 4
MM CHAPTER 1 5 PERFECT COMPETITION 347 SS MONOPOLY 375 CHAPTER CHECKLIST
347 CHAPTER CHECKLIST 375 MARKET TYPES 348 PERFECT COMPETITION, 348
OTHER MARKET TYPES, 348 14.1 A FIRM'S PROFIT MAXIMIZING CHOICES 349
PRICE TAKER, 349 REVENUE CONCEPTS, 349 PROFIT-MAXIMIZING OUTPUT, 350
MARGINAL ANALYSIS AND THE SUPPLY DECISION, 352 TEMPORARY SHUTDOWN
DECISION, 353 THE FIRM'S SHORT-RUN SUPPLY CURVE, 354 CHECKPOINT 14.1 356
14.2 OUTPUT, PRICE, AND PROFIT IN THE SHORT RUN 357 MARKET SUPPLY IN THE
SHORT RUN, 357 SHORT-RUN EQUILIBRIUM IN NORMAL TIMES, 358 SHORT-RUN
EQUILIBRIUM IN GOOD TIMES, 359 SHORT-RUN EQUILIBRIUM IN BAD TIMES, 360
CHECKPOINT 14.2 361 14.3 OUTPUT, PRICE, AND PROFIT IN THE LONG RUN 362
ENTRY AND EXIT, 363 CHANGE IN DEMAND, 366 TECHNOLOGICAL CHANGE, 366 IS
PERFECT COMPETITION EFFICIENT? 368 IS PERFECT COMPETITION FAIR? 369
CHECKPOINT 14.3 37 0 CHAPTER SUMMARY 371 CHAPTER CHECKPOINT 372 * EYE ON
THE U.S. ECONOMY ENTRY IN PERSONAL COMPUTERS, EXIT IN FARM MACHINES, 365
* EYE ON THE GLOBAL ECONOMY THE NORTH AMERICAN MARKET IN MAPLE SYRUP, *
EYE ON YOUR LIFE THE PERFECT COMPETITION THAT YOU ENCOUNTER, 15.1
MONOPOLY AND HOW IT ARISES 376 HOW MONOPOLY ARISES, 376 MONOPOLY
PRICE-SETTING STRATEGIES, 378 CHECKPOINT 15.1 379 15.2 SINGLE-PRICE
MONOPOLY 380 PRICE AND MARGINAL REVENUE, 380 MARGINAL REVENUE AND
ELASTICITY, 381 OUTPUT AND PRICE DECISION, 382 CHECKPOINT 15.2 384 15.3
MONOPOLY AND COMPETITION COMPARED 385 OUTPUT AND PRICE, 385 IS MONOPOLY
EFFICIENT? 386 IS MONOPOLY FAIR? 387 RENT SEEKING, 388 CHECKPOINT 15.3
389 15.4 PRICE DISCRIMINATION 390 PRICE DISCRIMINATION AND CONSUMER
SURPLUS, PROFITING BY PRICE DISCRIMINATING, 391 PERFECT PRICE
DISCRIMINATION, 392 PRICE DISCRIMINATION AND EFFICIENCY, 394 CHECKPOINT
15.4 395 15.5 MONOPOLY REGULATION 396 EFFICIENT REGULATION OF A NATURAL
MONOPOLY, SECOND-BEST REGULATION OF A NATURAL MONOPOLY, 399 CHECKPOINT
15.5 402 CHAPTER SUMMARY 403 CHAPTER CHECKPOINT 404 * EYE ON THE U.S.
ECONOMY AIRLINE PRICE DISCRIMINATION, 394 * EYE ON THE U.S. ECONOMY 367
REGULATORY ROLLER COASTER, 396 B EYE ON YOUR LIFE 369 MONOPOLY IN YOUR
EVERYDAY LIFE, 397 * EYE ON THE U.S. ECONOMY AIRLINE DEREGULATION, 400
390 397 XVI CONTENTS CHAPTER 1 6 MONOPOLISTIC COMPETITION 407 CHAPTER
CHECKLIST 407 16.1 WHAT IS MONOPOLISTIC COMPETITION? 408 LARGE NUMBER OF
FIRMS, 408 PRODUCT DIFFERENTIATION, 408 COMPETING ON QUALITY, PRICE, AND
MARKETING, 408 ENTRY AND EXIT, 409 IDENTIFYING MONOPOLISTIC COMPETITION,
409 CHECKPOINT 16.1 413 16.2 OUTPUT AND PRICE DECISIONS 414 THE FIRM'S
PROFIT-MAXIMIZING DECISION, 414 PROFIT MAXIMIZING MIGHT BE LOSS
MINIMIZING, 415 LONG RUN: ZERO ECONOMIC PROFIT, 416 MONOPOLISTIC
COMPETITION AND PERFECT COMPETITION, 417 IS MONOPOLISTIC COMPETITION
EFFICIENT? 418 CHECKPOINT 16.2 419 16.3 PRODUCT DEVELOPMENT AND
MARKETING 420 INNOVATION AND PRODUCT DEVELOPMENT, 420 ADVERTISING, 421
SELLING COSTS AND TOTAL COSTS, 422 USING ADVERTISING TO SIGNAL QUALITY,
424 BRAND NAMES, 425 EFFICIENCY OF ADVERTISING AND BRAND NAMES, 425
CHECKPOINT 16.3 426 CHAPTER SUMMARY 427 CHAPTER CHECKPOINT 428 * EYE ON
THE U.S. ECONOMY EXAMPLES OF MONOPOLISTIC COMPETITION, 412 * EYE ON THE
U.S. ECONOMY HOW MUCH IS SPENT ON ADVERTISING? 421 B EYE ON YOUR LIFE
SOME SELLING COSTS YOU PAY, 424 CHAPTER 1 7 OLIGOPOLY 431 CHAPTER
CHECKLIST 431 17.1 WHAT IS OLIGOPOLY? 432 SMALL NUMBER OF FIRMS, 432
BARRIERS TO ENTRY, 432 IDENTIFYING OLIGOPOLY, 434 CHECKPOINT 17.1 435
17.2 THE OLIGOPOLIST'S DILEMMA 436 MONOPOLY OUTCOME, 436 PERFECT
COMPETITION OUTCOME, 437 OTHER POSSIBLE CARTEL BREAKDOWNS, 437 THE
OLIGOPOLY CARTEL DILEMMA, 438 CHECKPOINT 17.2 440 17.3 GAME THEORY 441
WHAT IS A GAME? 441 THE PRISONERS' DILEMMA, 441 THE DUOPOLIST'S DILEMMA,
443 ADVERTISING AND RESEARCH GAMES IN OLIGOPOLY, REPEATED GAMES, 446 IS
OLIGOPOLY EFFICIENT? 446 CHECKPOINT 17.3 448 17.4 ANTITRUST LAW 449 THE
ANTITRUST LAWS, 449 THREE ANTITRUST POLICY DEBATES, 449 MERGER RULES,
452 CHECKPOINT 17.4 45 4 CHAPTER SUMMARY 455 CHAPTER CHECKPOINT 456 *
EYE ON THE U.S. ECONOMY EXAMPLES OF OLIGOPOLY, 433 * EYE ON THE GLOBAL
ECONOMY THE OPEC GLOBAL OIL CARTEL, 439 * EYE ON YOUR LIFE A GAME YOU
MIGHT PLAY, 447 * EYE ON THE GLOBAL ECONOMY DUOPOLY IN CPUS, 447 * EYE
ON THE U.S. ECONOMY NO SODA MERGER, 453 444 CONTENTS XVII PART 6
INCOMES, UNCERTAINTY, AND INEQUALITY 18.1 18.2 CHAPTER 1 8 MARKETS FOR
FACTORS OF PRODUCTION 459 CHAPTER CHECKLIST 459 THE ANATOMY OF FACTOR
MARKETS 460 THE DEMAND FOR A FACTOR OF PRODUCTION 461 VALUE OF MARGINAL
PRODUCT, 461 A FIRM'S DEMAND FOR LABOR, 462 A FIRM'S DEMAND FOR LABOR
CURVE, 463 CHANGES IN THE DEMAND FOR LABOR, 464 CHECKPOINT 18.1 465
LABOR MARKETS 466 THE SUPPLY OF LABOR, 466 INFLUENCES ON THE SUPPLY OF
LABOR, 467 COMPETITIVE LABOR MARKET EQUILIBRIUM, 468 LABOR UNIONS, 470
CHECKPOINT 18.2 472 18.3 CAPITAL AND NATURAL RESOURCE MARKETS 473
CAPITAL MARKETS, 473 LAND MARKETS, 474 NONRENEWABLE NATURAL RESOURCE
MARKETS, 475 CHECKPOINT 18.3 478 CHAPTER SUMMARY 479 CHAPTER CHECKPOINT
480 * EYE ON THE U.S. ECONOMY REALLOCATING LABOR, 469 * EYE ON YOUR LIFE
JOB CHOICE AND INCOME PROSPECTS, 475 * EYE ON THE GLOBAL ECONOMY OIL AND
METAL PRICES, 476 19.1 CHAPTER 1 9 UNCERTAINTY AND INFORMATION 483
CHAPTER CHECKLIST 483 DECISIONS IN THE FACE OF UNCERTAINTY 484 EXPECTED
WEALTH, 484 RISK AVERSION, 484 UTILITY OF WEALTH, 485 EXPECTED UTILITY,
486 MAKING A CHOICE WITH UNCERTAINTY, 487 CHECKPOINT 19.1 488 19.2
BUYING AND SELLING RISK 489 INSURANCE MARKETS, 489 A GRAPHICAL ANALYSIS
OF INSURANCE, CHECKPOINT 19.2 493 491 19.3 PRIVATE INFORMATION 494
ASYMMETRIC INFORMATION: EXAMPLES AND PROBLEMS, 494 THE MARKET FOR USED
CARS, 495 THE MARKET FOR LOANS, 498 THE MARKET FOR INSURANCE, 501
CHECKPOINT 19.3 502 CHAPTER SUMMARY 503 CHAPTER CHECKPOINT 504 * EYE ON
THE U.S. ECONOMY INSURANCE IN THE UNITED STATES 490 * EYE ON THE U.S.
ECONOMY THE SUB-PRIME MORTGAGE CRISIS AND THE 2007 HOUSING CREDIT
CRUNCH, 499 B EYE ON YOUR LIFE SIGNALING YOUR ABILITY, 501 XVIII
CONTENTS CHAPTER 20 INEQUALITY AND POVERTY 507 CHAPTER CHECKLIST 507
20.1 ECONOMIC INEQUALITY IN THE UNITED STATES 508 LORENZ CURVES, 508
INEQUALITY OVER TIME, 509 ECONOMIC MOBILITY, 510 WHO ARE THE RICH AND
THE POOR? 512 POVERTY, 513 CHECKPOINT 20.1 515 20.2 HOW INEQUALITY AND
POVERTY ARISE 516 HUMAN CAPITAL, 516 DISCRIMINATION, 519 FINANCIAL AND
PHYSICAL CAPITAL, 520 ENTREPRENEURIAL ABILITY, 520 PERSONAL AND FAMILY
CHARACTERISTICS, 520 CHECKPOINT 20.2 521 20.3 INCOME REDISTRIBUTION 522
HOW GOVERNMENTS REDISTRIBUTE INCOME, THE SCALE OF INCOME REDISTRIBUTION,
523 WHY WE REDISTRIBUTE INCOME, 525 THE MAJOR WELFARE CHALLENGE, 526
CHECKPOINT 20.3 528 CHAPTER SUMMARY 529 CHAPTER CHECKPOINT 530 * EYE ON
THE GLOBAL ECONOMY GLOBAL INEQUALITY, 510 * EYE ON THE U.S. ECONOMY DOES
EDUCATION PAY? 518 * EYE ON THE U.S. ECONOMY SEX AND RACE EARNINGS
DIFFERENCES, 519 M EYE ON YOUR LIFE WHAT YOU PAY AND GAIN THROUGH
REDISTRIBUTION, GLOSSARY G-L INDEX 1-1 CREDITS C-L 527 522 |
| any_adam_object | 1 |
| any_adam_object_boolean | 1 |
| author | Bade, Robin Parkin, Michael 1939- |
| author_GND | (DE-588)132243555 |
| author_facet | Bade, Robin Parkin, Michael 1939- |
| author_role | aut aut |
| author_sort | Bade, Robin |
| author_variant | r b rb m p mp |
| building | Verbundindex |
| bvnumber | BV023366642 |
| classification_rvk | QC 100 |
| ctrlnum | (OCoLC)796904504 (DE-599)BVBBV023366642 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| edition | 4. ed., internat. ed. |
| format | Book |
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| genre | 1\p (DE-588)4123623-3 Lehrbuch gnd-content |
| genre_facet | Lehrbuch |
| id | DE-604.BV023366642 |
| illustrated | Illustrated |
| index_date | 2024-07-02T21:11:05Z |
| indexdate | 2024-07-09T21:16:58Z |
| institution | BVB |
| isbn | 0321522508 9780321556127 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-016549985 |
| oclc_num | 796904504 |
| open_access_boolean | |
| owner | DE-703 DE-634 |
| owner_facet | DE-703 DE-634 |
| physical | Getr. Zählung zahlr. Ill. und graph. Darst. |
| publishDate | 2009 |
| publishDateSearch | 2009 |
| publishDateSort | 2009 |
| publisher | Pearson, Addison Wesley |
| record_format | marc |
| spelling | Bade, Robin Verfasser aut Foundations of microeconomics Robin Bade ; Michael Parkin Microeconomics 4. ed., internat. ed. Boston [u.a.] Pearson, Addison Wesley 2009 Getr. Zählung zahlr. Ill. und graph. Darst. txt rdacontent n rdamedia nc rdacarrier Mikroökonomie (DE-588)4039225-9 gnd rswk-swf 1\p (DE-588)4123623-3 Lehrbuch gnd-content Mikroökonomie (DE-588)4039225-9 s DE-604 Parkin, Michael 1939- Verfasser (DE-588)132243555 aut GBV Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016549985&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Bade, Robin Parkin, Michael 1939- Foundations of microeconomics Mikroökonomie (DE-588)4039225-9 gnd |
| subject_GND | (DE-588)4039225-9 (DE-588)4123623-3 |
| title | Foundations of microeconomics |
| title_alt | Microeconomics |
| title_auth | Foundations of microeconomics |
| title_exact_search | Foundations of microeconomics |
| title_exact_search_txtP | Foundations of microeconomics |
| title_full | Foundations of microeconomics Robin Bade ; Michael Parkin |
| title_fullStr | Foundations of microeconomics Robin Bade ; Michael Parkin |
| title_full_unstemmed | Foundations of microeconomics Robin Bade ; Michael Parkin |
| title_short | Foundations of microeconomics |
| title_sort | foundations of microeconomics |
| topic | Mikroökonomie (DE-588)4039225-9 gnd |
| topic_facet | Mikroökonomie Lehrbuch |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016549985&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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