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Record Nr. |
UNINA9910154763603321 |
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Autore |
Perloff Jeffrey M. |
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Titolo |
Microeconomics / / Jeffrey M. Perloff |
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Pubbl/distr/stampa |
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Boston, [Massachusetts] : , : Pearson, , 2016 |
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©2016 |
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ISBN |
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Edizione |
[Seventh edition, global edition.] |
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Descrizione fisica |
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1 online resource (800 pages) : illustrations, tables |
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Collana |
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The Pearson Series in Economics |
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Disciplina |
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Soggetti |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Nota di bibliografia |
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Includes bibliographical references and index. |
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Nota di contenuto |
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Cover -- Brief Contents -- Contents -- Preface -- Chapter 1: Introduction -- 1.1 Microeconomics: The Allocation of Scarce Resources -- Trade-Offs -- Who Makes the Decisions -- Prices Determine Allocations -- 1.2 Models -- Application: Income Threshold Model and China -- Simplifications by Assumption -- Testing Theories -- Positive Versus Normative -- 1.3 Uses of Microeconomic Models -- Summary -- Chapter 2: Supply and Demand -- Challenge: Quantities and Prices of Genetically Modified Foods -- 2.1 Demand -- The Demand Curve -- Application: Calorie Counting at Starbucks -- The Demand Function -- Solved Problem 2.1 -- Summing Demand Curves -- Application: Aggregating Corn Demand Curves -- 2.2 Supply -- The Supply Curve -- The Supply Function -- Summing Supply Curves -- Effects of Government Import Policies on Supply Curves -- Solved Problem 2.2 -- 2.3 Market Equilibrium -- Using a Graph to Determine the Equilibrium -- Using Math to Determine the Equilibrium -- Forces That Drive the Market to Equilibrium -- 2.4 Shocking the Equilibrium -- Effects of a Shift in the Demand Curve -- Solved Problem 2.3 -- Effects of a Shift in the Supply Curve -- 2.5 Equilibrium Effects of Government Interventions -- Policies That Shift Supply Curves -- Application: Occupational Licensing -- Solved Problem 2.4 -- Policies That Cause Demand to Differ from Supply -- Application: Price Controls Kill -- Solved Problem 2.5 -- Why Supply Need Not Equal Demand -- 2.6 When to Use the Supply-and-Demand Model -- Challenge Solution: Quantities and Prices of Genetically Modified Foods -- Summary -- |
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Questions -- Chpater 3: Applying the Supply-and-Demand Model -- Challenge Who Pays the Gasoline Tax? -- 3.1 How Shapes of Supply and Demand Curves Matter -- 3.2 Sensitivity of the Quantity Demanded to Price -- Price Elasticity of Demand -- Solved Problem 3.1. |
Elasticity Along the Demand Curve -- Demand Elasticity and Revenue -- Solved Problem 3.2 -- Application: Do Farmers Benefit from a Major Drought? -- Demand Elasticities over Time -- Other Demand Elasticities -- 3.3 Sensitivity of the Quantity Supplied to Price -- Elasticity of Supply -- Elasticity Along the Supply Curve -- Supply Elasticities over Time -- Application: Oil Drilling in the Arctic National Wildlife Refuge -- Solved Problem 3.3 -- 3.4 Effects of a Sales Tax -- Equilibrium Effects of a Specific Tax -- The Equilibrium is the Same No Matter Who is Taxed -- Solved Problem 3.4 -- Firms and Customers Share the Burden of the Tax -- Application: Taxes to Prevent Obesity -- Solved Problem 3.5 -- Ad Valorem and Specific Taxes Have Similar Effects -- Solved Problem 3.6 -- Subsidies -- Application: The Ethanol Subsidy -- Challenge Solution: Who Pays the Gasoline Tax? -- Summary -- Questions -- Chapter 4: Consumer Choice -- Challenge: Why Americans Buy More E-Books Than Do Germans -- 4.1 Preferences -- Properties of Consumer Preferences -- Application: You Can't Have Too Much Money -- Preference Maps -- Solved Problem 4.1 -- Application: Indifference Curves Between Food and Clothing -- 4.2 Utility -- Utility Function -- Ordinal Preferences -- Utility and Indifference Curves -- Marginal Utility -- Utility and Marginal Rates of Substitution -- 4.3 Budget Constraint -- Slope of the Budget Constraint -- Solved Problem 4.2 -- Effect of a Change in Price on the Opportunity Set -- Effect of a Change in Income on the Opportunity Set -- Solved Problem 4.3 -- 4.4 Constrained Consumer Choice -- The Consumer's Optimal Bundle -- Application: Substituting Alcohol for Marijuana -- Solved Problem 4.4 -- Optimal Bundles on Convex Sections of Indifference Curves -- Buying Where More is Better -- Food Stamps -- Application: Benefiting from Food Stamps. |
4.5 Behavioral Economics -- Tests of Transitivity -- Endowment Effect -- Application: Opt in Versus Opt Out -- Salience and Bounded Rationality -- Application Unaware of Taxes -- Challenge Solution: Why Americans Buy More E-Books Than Do Germans -- Summary -- Questions -- Chapter 5: Applying Consumer Theory -- Challenge: Per-Hour Versus Lump-Sum Childcare Subsidies -- 5.1 Deriving Demand Curves -- Indifference Curves and a Rotating Budget Line -- Price-Consumption Curve -- Application: Smoking Versus Eating and Phoning -- The Demand Curve Corresponds to the Price-Consumption Curve -- Solved Problem 5.1 -- 5.2 How Changes in Income Shift Demand Curves -- Effects of a Rise in Income -- Solved Problem 5.2 -- Consumer Theory and Income Elasticities -- Application: Fast-Food Engel Curve -- 5.3 Effects of a Price Change -- Income and Substitution Effects with a Normal Good -- Solved Problem 5.3 -- Solved Problem 5.4 -- Application: Shipping the Good Stuff Away -- Income and Substitution Effects with an Inferior Good -- Solved Problem 5.5 -- Compensating Variation and Equivalent Variation -- Application: What's the Value of Using the Internet? -- 5.4 Cost-of-Living Adjustments -- Inflation Indexes -- Effects of Inflation Adjustments -- Application: Paying Employees to Relocate -- 5.5 Deriving Labor Supply Curves -- Labor-Leisure Choice -- Income and Substitution Effects -- Solved Problem 5.6 -- Shape of the Labor Supply Curve -- Application: Working After Winning the Lottery -- Income Tax Rates and Labor Supply -- Challenge Solution: Per-Hour Versus Lump-Sum Childcare Subsidies -- Summary -- Questions -- Chapter 6: Firms and Production -- Challenge: Labor Productivity During Recessions -- |
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6.1 The Ownership and Management of Firms -- Private, Public, and Nonprofit Firms -- Application: Chinese State-Owned Enterprises -- The Ownership of For-Profit Firms. |
The Management of Firms -- What Owners Want -- 6.2 Production Function -- 6.3 Short-Run Production -- Total Product -- Marginal Product of Labor -- Solved Problem 6.1 -- Average Product of Labor -- Graphing the Product Curves -- Law of Diminishing Marginal Returns -- Application: Malthus and the Green Revolution -- 6.4 Long-Run Production -- Isoquants -- Application: A Semiconductor Integrated Circuit Isoquant -- Substituting Inputs -- Solved Problem 6.2 -- 6.5 Returns to Scale -- Constant, Increasing, and Decreasing Returns to Scale -- Solved Problem 6.3 -- Application: Returns to Scale in Various Industries -- Varying Returns to Scale -- 6.6 Productivity and Technical Change -- Relative Productivity -- Application: Tata Nano's Technical and Organizational Innovations -- Innovations -- Application: Tata Nano's Technical and Organizational Innovations -- Challenge Solution: Labor Productivity During Recessions -- Summary -- Questions -- Chapter 7: Costs -- Challenge: Technology Choice at Home Versus Abroad -- 7.1 The Nature of Costs -- Opportunity Costs -- Application: The Opportunity Cost of an MBA -- Solved Problem 7.1 -- Costs of Durable Inputs -- Sunk Costs -- 7.2 Short-Run Costs -- Short-Run Cost Measures -- Short-Run Cost Curves -- Production Functions and the Shape of Cost Curves -- Application: Short-Run Cost Curves for a Beer Manufacturer -- Effects of Taxes on Costs -- Solved Problem 7.2 -- Short-Run Cost Summary -- 7.3 Long-Run Costs -- All Costs are Avoidable in the Long Run -- Minimizing Cost -- Isocost Line -- Combining Cost and Production Information -- Solved Problem 7.3 -- Factor Price Changes -- Solved Problem 7.4 -- The Long-Run Expansion Path and the Long-Run Cost Function -- Solved Problem 7.5 -- The Shape of Long-Run Cost Curves -- Application: Economies of Scale in NuclearPower Plants. |
Estimating Cost Curves Versus Introspection -- 7.4 Lower Costs in the Long Run -- Long-Run Average Cost as the Envelope of Short-Run Average Cost Curves -- Application: Long-Run Cost Curves in Beer Manufacturing -- Application: Choosing an Inkjet or a Laser Printer -- Short-Run and Long-Run Expansion Paths -- The Learning Curve -- Application: Learning by Drilling -- 7.5 Cost of Producing Multiple Goods -- Application: Economies of Scope -- Challenge Solution: Technology Choice at Home Versus Abroad -- Summary -- Questions -- Chapter 8: Competitive Firms and Markets -- Challenge: The Rising Cost of Keeping On Truckin' -- 8.1 Perfect Competition -- Price Taking -- Why the Firm's Demand Curve is Horizontal -- Deviations from Perfect Competition -- Derivation of a Competitive Firm's Demand Curve -- Solved Problem 8.1 -- Why We Study Perfect Competition -- 8.2 Profit Maximization -- Profit -- Two Steps to Maximizing Profit -- 8.3 Competition in the Short Run -- Short-Run Output Decision -- Solved Problem 8.2 -- Short-Run Shutdown Decision -- Application: Oil, Oil Sands, and Oil Shale Shutdowns -- Solved Problem 8.3 -- Short-Run Firm Supply Curve -- Short-Run Market Supply Curve -- Short-Run Competitive Equilibrium -- Solved Problem 8.4 -- 8.4 Competition in the Long Run -- Long-Run Competitive Profit Maximization -- Long-Run Firm Supply Curve -- Application: The Size of Ethanol Processing Plants -- Long-Run Market Supply Curve -- Application: Fast-Food Firms' Entry in Russia -- Application: Upward-Sloping Long-Run Supply Curve for Cotton -- Application: Reformulated Gasoline Supply Curves -- Solved Problem 8.5 -- Long-Run Competitive Equilibrium -- Challenge Solution: The Rising Cost of Keeping On Truckin' -- Summary -- Questions -- Chapter 9: Applying |
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the Competitive Model -- Challenge: "Big Dry" Water Restrictions. |
9.1 Zero Profit for Competitive Firms in the Long Run. |
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Sommario/riassunto |
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For all Intermediate Microeconomics courses at the undergraduate or graduate level. Microeconomics has become a market leader because Perloff presents theory in the context of real, data-driven examples, and then develops intuition through his hallmark Solved Problems. Students gain a practical perspective, seeing how models connect to real-world decisions being made in today's firms and policy debates. The Seventh Edition is substantially updated and modified based on the extremely helpful suggestions of faculty and students who used the first six editions. Every chapter is thoroughly revised and includes new or updated examples and applications. MyEconLab for Microeconomics is a total learning package for the intermediate microeconomics course. MyEconLab is an online homework, tutorial, and assessment program that truly engages students in learning. It helps students better prepare for class, quizzes, and exams-resulting in better performance in the course-and provides educators a dynamic set of tools for gauging individual and class progress. This program will provide a better teaching and learning experience-for you and your students. Here's how: Improve Results with MyEconLab: MyEconLab delivers proven results in helping students succeed and provides engaging experiences that personalize learning. Help Students Review and Apply Concepts: Examples and exercises help students practice and connect to real-world decisions being made today in today's firms and policy debates. Keep Your Course Current and Relevant: New examples, exercises, and statistics appear throughout the text. Please note that the product you are purchasing does not include MyEconLab. MyEconLab Join over 11 million students benefiting from Pearson MyLabs. This title can be supported by |
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