Microeconomic theory:
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Homewood, Ill. [u.a.]
Irwin
1975
|
| Edition: | 4. ed. |
| Series: | The Irwin series in economics
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XIV, 542 S. |
| ISBN: | 0256016372 |
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| 245 | 1 | 0 | |a Microeconomic theory |c C. E. Ferguson ; J. P. Gould |
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Record in the Search Index
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| adam_text | Titel: Microeconomic theory
Autor: Ferguson, Charles E
Jahr: 1975
Contents
Introduction
Scope and methodology of economics 1
Scope of Economics: Economics in the Small and in the Large. Norms
and Policy. Methodology: Model Analysis. An Overview of this Book.
Advanced reading 7
pari I
Theory of consumer behavior and demand 9
1. Theory of Utility and preference 11
Introduction: The Nature of Commodities. Füll Knowledge. The Theory
of Consumer Preference. Utility and Preference: The Utility Surface. The
Indifference Curve. Summary. Characteristics of Indifference Curves. Mar-
ginal Rate of Substitution. Conclusion.
2. Theory of consumer behavior 29
Introduction: Maximization of Satisfacüon. Limited Money Income. Shift-
ing the Budget Line. Consumer Equilibrium: The Relevant Part of Com-
modity Space. Maximizing Satisfacüon Subject to a Limited Money In-
x Contents
come. Changes in Money Income: The Income-Consumption Curve. Engel
Curves. Engel Curves and the Income Elasticity of Demand. Changes in
Price: The Price-Consumption Curve. The Demand Curve. The Elasticity
of Demand. Elasticity of Demand and the Price-Consumption Curve.
v 3. Topics in consumer demand 52
Introduction. Substitution and Income Effects: The Substitution Effect
in the Case of a Normal or Superior Good. The Income Effect in the Case
of a Normal Good. Normal or Superior Goods. Inferior Goods: Inferior
Goods and Giffen s Paradox. Income and Substitution Effects for an In-
ferior Good. Substitution and Complementarity: Classification by Cross-
Elasticities. Geometrie Illustrations. Application of Indifference Curve
Analysis: The Economic Theory of Index Numbers: Information from
the Budget Map. Index Numbers as Indicators of Individual Weifare
Changes. Applications of Indifference Curve Analysis: The Choice be-
tween Leisure and Income: The Income-Leisure Graph. Equilibrium be-
tween Income and Leisure. Overtime Rates. Demand for General As-
sistance Payments. Time Preference-Consumption and Saving over the
Life Cycle. Choices Involving Risk: Probabilities and Expected Value.
The Expected Utility Hypothesis. Indifference Curves and State Preference
Analysis. An Example of Decision Making In a Risky Situation.
v 4. Characteristics of market demand 90
Introduction. From Individual to Market Demand: The Determinants of
Demand. Determining Market Demand. Elasticities of Demand: Price
Elasticity of Demand. Coefficient of Price Elasticity. Graphical Measure-
ment of Point Elasticity. Factors Affecting Price Elasticity. Price Cross-
Elasticity of Demand. Income Elasticity of Demand. Marginal Revenue:
Calculation of Marginal Revenue. The Geometry of Marginal Revenue
Determination. Demand, Revenue, and Elasticity: Elasticity and Total
Revenue. Elasticity and Marginal Revenue. Demand Curve for a Firm in
Perfect Competition.
Advanced reading, part I 120
part II
Theory of produetion and cost 123
5. Produetion with one variable input 125
Introduction: Fixed and Variable Inputs, the Short and Long Runs. Fixed
or Variable Proportions. The Produetion Function: Total Output or Prod-
uct. Average and Marginal Products. Law of Diminishing Marginal Physi-
: Veturns. The Geometry of Average and Marginal Product Curves:
Contents xi
Geometry of Average Product Curves. Geometry of Marginal Product
Curves. Total, Average, and Marginal Products. The Tbree Stages of
Produetion. Linearly Homogeneous Produetion Functions.
6. Produetion and optimal input proportions: Two variable inputs 144
Introduction: Produetion Table. Input Substitution. Produetion Surface:
Produetion Surface for Discrete Case. Produetion Surface for Continuous
Case. Produetion Isoquants. Fixed-Proportions Produetion Functions. In-
put Substitution: Marginal Rate of Technical Substitution. Diminishing
Marginal Rate of Technical Substitution. Economic Region of Produetion.
Optimal Combination of Resources: Input Prices and Isocosts. Maximizing
Output for a Given Cost. Minimizing Cost Subject to a Given Output.
The Expansion Path: Isoclines. Changing Output and the Expansion Path.
Expenditure Elasticity. Changes in Input Price: The Substitution and Out-
put Effects. Inferior Factors and the Output Effect. Analogies Between
Consumer and Producer Behavior. Conclusion.
7. Theory of cost 179
Introduction: Social Cost of Produetion. Private Cost of Produetion. The
Role of the Entrepreneur. Short and Long Runs: Long-Run Costs and
the Produetion Function. Short-Run Costs and the Produetion Function.
Fixed and Variable Costs in the Short Run. Theory of Cost in the Short
Run: Total Short-Run Cost. Average and Marginal Cost. Geometry of
Average and Marginal Cost Curves. Short-Run Cost Curves. Long-Run
Theory of Cost: Short Run and the Long. Long-Run Average Cost Curve.
Long-Run Marginal Cost. The Envelope Curve and the Expansion Path.
Cost Elasticity and the Function Coefficient: The Function Coefficient.
Cost Elasticity. Shape of LAC: Economies of Scale. Diseconomies of
Scale. Long-Run Cost and Changes in Factor Price: Changes in Long-Run
Average Cost. Changes in Long-Run Marginal Cost and Minimum Aver-
age Total Cost. Conclusion.
Advanced reading, part II 216
part III
Theory of the firm and market Organization 219
8. Theory of price in perfectly competitive markets 222
Introduction. Perfect Competition: Price Taking Demanders and Sup-
pliers. Homogeneous Product. Free Mobility of Resources. Perfect Knowl-
edge. Equilibrium in the Market Period: Industry Equilibrium in the
Market Period. Price as a Rationing Device. Short-Run Equilibrium of a
xii Contents
Firm in a Perfectly Competitive Market: Short-Run Profit Maximization,
Total Revenue-Total Cost Approach. Short-Run Profit Maximization,
the Marginal Approach. Proof of the Short-Run Equilibrium. Profit or
LossP Short-Run Supply Curve of a Firm in a Perfectly Competitive ln-
dustry. Short-Run Equilibrium in a Perfectly Competitive Industry: Short-
Run Industry Supply Curve. Short-Run Market Equilibrium, Profit or
Loss. Demand-Sitpply Analysis. Long-Run Equilibrium in a Perfectly Com-
petitive Market: Long-Run Adjustment of an Established Firm. Long-Run
Adjustment of the Industry. Long-Run Equilibrium in a Perfectly Com-
petitive Firm. Constant Cost Industries. Increasing Cost Industries. The
Competitive Model in Practice. Conclusion.
9. Theory of price under pure monopoly 259
Introduction: Definition. Bases of Monopoly. Demand Under Monopoly.
Cost and Supply Under Monopoly: Cost with Monopoly in the Input
Market. A Word on Monopoly Supply. Short-Run Equilibrium Under
Monopoly: Total Revenue-Total Cost Approach. Marginal Revenue-
Marginal Cost Approach. Short-Run Equilibrium. Monopoly Supply in the
Short Run. Multiplant Monopoly in the Short Run. Long-Run Equilibrium
Under Monopoly: Long-Run Equilibrium in a Single-Plant Monopoly.
Comparison with Perfect Competition. Long-Run Equilibrium in a Multi-
plant Monopoly. Comparison with Perfect Competition. Special Topics
in Monopoly Theory: Price Discrimination. Bilateral Monopoly.
10. Competition and monopoly: Some theoretical exercises 292
Introduction: Excise Taxes in a Competitive Industry: Short-Run Effects
on Cost, Price, and Output. Long-Run Effects of the Tax. Ad Valorem
Taxes. Lump-Sum Taxes: Short-Run Effects of a Lump-Sum Tax in a
Competitive Industry. Long-Run Effects of a Lump-Sum Tax. Lump-Sum
Taxes and the Size Distribution of Firms. Price Controls: Price Controls
in a Competitive Industry. Price Controls in a Monopoly. Price Supports
and Output Restrictions: Price Floors. Output Restrictions. Suppression
of Inventions in a Monopoly.
11. Theory of price under monopolistic competition 312
Introduction: Historical Perspective. Product Differentiation. Industries
and Product Groups. A Different View of Perfect Competition: Short-
Run Equilibrium in Monopolistic Competition: Long-Run Equilibrium
in Monopolistic Competition: Characteristics of Monopolistic Competi-
tion: Ideal Output and Excess Capacity. Nonprice Competition and Ex-
cess Capacity. Comparisons of Long-Run Equilibria: Equilibrium in the
Firm. Long-Run Equilibria in Industries and Product Groups. An Ap-
praisal of Monopolistic Competition.
Contents xiii
12. Theories of price in oligopoly markets 329
Introduction: The Oligopoly Problem. Some Concepts and Assumptions.
Some Classical Solutions to the Duopoly Problem: Cournot Case. Edge-
worth Case. Stability in Oligopoly Markets: Chamberlin Solution. Sta-
bility in Oligopoly Markets: Sweezy Solution. Theory of Games and Oli-
gopoly Behavior. Some Market Solutions to the Duopoly Problem:
Cartels and Profit Maximization. Cartels and Market Sharing. Short and
Turbulent Life of Cartels-The Great Electrical Conspiracy. Price Leader-
ship in Oligopoly. Competition in Oligopoly Markets. Weifare Effects of
Oligopoly.
part IV
Theory of distribution 363
13. Marginal productivity theory of distribution in perfectly
competitive markets 365
Introduction. Demand for a Productive Service: Demand of a Firm for
One Variable Productive Service. Individual Demand Curves When Sev-
eral Variable Inputs Are Used. Determinants of the Demand for a Produc-
tive Service. Market Demand for a Variable Productive Service. Supply
of a Variable Productive Service: General Considerations. Indifference
Curve Analysis of Labor Supply. The Market Supply of Labor. Marginal
Productivity Theory of Input Returns: Market Equilibrium and the Re-
turns to Variable Productive Services. Short Run and Quasi Rents. Clark-
Wicksteed Product Exhaustion Theorem. Distribution and Relative Factor
Shares: Least-Cost Combinations of Inputs and Linearly Homogeneous
Produetion Functions. The Elasticity of Substitution. Elasticity of Substitu-
tion and Changes in Relative Factor Shares. Classification of Technologi-
cal Progress. Biased Technological Progress and Relative Factor Shares.
Appendix to Chapter 13: The Clark-Wieksteed Theorem. The Output
Elasticity of Productive Services.
14. Theory of employment in imperfectly competitive markets 397
Introduction. Monopoly in the Commodity Market: Marginal Revenue
Product. Monopoly Demand for a Single Variable Service. Monopoly De-
mand for a Variable Productive Service When Several Variable Inputs Are
Used. Market Demand for a Variable Productive Service. Equilibrium
Price and Employment. Monopolistic Exploitation. Monopsony: Monopoly
in the Input Market: Marginal Expense of Input. Price and Employment
under Monopsony When One Variable Input Is Used. Price and Employ-
ment under Monopsony When Several Variable Inputs Are Used. Mo-
nopsonistic Exploitation. Monopsony and the Economic Effects of Labor
Unions.
Advanced reading, part IV 421
xiv Contents
partV
Theory of general equilibrium and economic welfare 423
15. Theory of general economic equilibrium 426
Introduction: A Simple Two-Person Economy. The Farmer as Entre-
preneur. The Farmer as Consumer-Laborer. General Equilibrium and
Walras s Law. General Equilibrium of Exchange: Edgeworth Box Dia-
gram. Equilibrium of Exchange. Deriving the Utility-Possibility Frontier.
General Equilibrium of Produetion and Exchange: General Equilibrium
of Produetion. General Equilibrium of Produetion and Exchange. Deriv-
ing the Production-Possibility Frontier or Transformation Curve. General
Competitive Equilibrium in a Two-Good Economy: Produetion in a Two-
Good Economy. Equilibrium in a Two-Good Economy. Factor Intensities
and the Relationship Between Factor Prices and Commodity Prices.
16. Theory of welfare economics 452
Introduction: Marginal Conditions for Social Welfare. Welfare Maximiza-
tion and Perfect Competition. Input, Output, and Distribution: General
Assumptions. Retracing Some Steps: From Produetion Functions to the
Production-Possibility Frontier. Produetion Possibilities and the Optimum
Conditions of Exchange. Retracing Some Steps: From the Contract Curve
to the Utility-Possibility Frontier. From a Utility-Possibility Point to the
Grand Utility-Possibility Frontier. From the Utility-Possibility Frontier
to the Point of Constrained Bliss. Constrained Bliss and Efficiency. In-
puts, Outputs, Distribution, and Welfare. From Constrained Bliss to
Prices, Wages, and Rent. Minimum Wages and Pareto Efficiency: A Dis-
gression. External Economies and Welfare Economics: A Final Word on
Free Enterprise: Social Benefits and Costs. Ownership Externalities. Tech-
nical Extemalities. Public Good Externalities. Externalities and Free
Enterprise.
Advanced reading, part V 479
Appendix: A comprehensive examination in microeconomic
theory for graduate students 485
Author index 521
Subject index 525
|
| any_adam_object | 1 |
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| dewey-search | 338.5 19 |
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| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| edition | 4. ed. |
| format | Book |
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| spelling | Ferguson, Charles Elmo Verfasser aut Microeconomic theory C. E. Ferguson ; J. P. Gould 4. ed. Homewood, Ill. [u.a.] Irwin 1975 XIV, 542 S. txt rdacontent n rdamedia nc rdacarrier The Irwin series in economics Mikroökonomie (DE-588)4039225-9 gnd rswk-swf Mikroökonomie (DE-588)4039225-9 s DE-604 Gould, John P. Verfasser aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=021846199&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Ferguson, Charles Elmo Gould, John P. Microeconomic theory Mikroökonomie (DE-588)4039225-9 gnd |
| subject_GND | (DE-588)4039225-9 |
| title | Microeconomic theory |
| title_auth | Microeconomic theory |
| title_exact_search | Microeconomic theory |
| title_full | Microeconomic theory C. E. Ferguson ; J. P. Gould |
| title_fullStr | Microeconomic theory C. E. Ferguson ; J. P. Gould |
| title_full_unstemmed | Microeconomic theory C. E. Ferguson ; J. P. Gould |
| title_short | Microeconomic theory |
| title_sort | microeconomic theory |
| topic | Mikroökonomie (DE-588)4039225-9 gnd |
| topic_facet | Mikroökonomie |
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