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Microeconomics Microeconomics

Microeconomics Colander • 10th Edition • 978-1259655500

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Ch. 1 - Economics and Economic Reasoning

Introduction to Economics Three Key Economic Ideas Productive and Allocative Efficiency; Equality Positive and Normative Statements Graphing Review Percentage and Decimal Review Fractions Review

Ch. 2 - The Production Possibility Model, Trade, and Globalization

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

Ch. 3 - Economic Institutions

Circular Flow Diagram

Ch. 4 - Supply and Demand

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

Ch. 5 - Using Supply and Demand

Supply and Demand Together: One-sided Shifts Supply and Demand Together: Both Shift Price Ceilings, Price Floors, and Black Markets Supply and Demand: Quantitative Analysis

Ch. 6 - Describing Supply and Demand: Elasticities

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

Ch. 7 - Taxation and Government Intervention

Consumer Surplus and Willingness to Pay Producer Surplus and Willingness to Sell Economic Surplus and Efficiency Introducing Taxes and Tax Incidence Effects of Taxes on a Market Elasticity and Taxes

Ch. 8 - Market Failure versus Government Failure

Externalities: Social Benefits and Social Costs Public Solutions to Externalities Private Solutions to Externalities: The Coase Theorem Four Types of Goods and Two Characteristics The Free Rider Problem and the Tragedy of the Commons Asymmetric Information: Adverse Selection and Moral Hazard Solutions to Informational Problems

Ch. 9 - Comparative Advantage, Exchange Rates, and Globalization

PPF - Comparative Advantage and Absolute Advantage PPF - Comparative Advantage and Trade PPF - The Price of the Trade Sources of Comparative Advantage

Ch. 10 - International Trade Policy

Exporting and Importing Tariffs on Imports Import Quotas and VERs Arguments Against International Trade

Ch. 11 - Production and Cost Analysis I

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

Ch. 12 - Production and Cost Analysis II

Average Total Cost: Short Run and Long Run Isoquant Lines Isocost Lines Cost-Minimizing Combination of Labor and Capital

Ch. 13 - 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 Four Market Model Summary: Perfect Competition

Ch. 14 - Monopoly and Monopolistic Competition

Characteristics of Monopoly Monopoly Revenue Monopoly Profit on the Graph Monopoly Efficiency and Deadweight Loss Price Discrimination Four Market Model Summary: Monopoly 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. 15 - Oligopoly

Characteristics of Oligopoly Antitrust Laws and Government Regulation of Monopolies Mergers and the Herfindahl-Hirschman Index (HHI) Four Market Model Summary: Oligopoly

Ch. 17 - Work and the Labor Market

Factors of Production 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 Unions Monopsony Bilateral Monopoly

Ch. 18 - Who Gets What? The Distribution of Income

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

Ch. 19 - The Logic of Individual Choice: The Foundation of Supply and Demand

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. 20 - Game Theory, Strategic Decision Making, and Behavioral Economics

One-Time Games and the Prisoner's Dilemma