The exciting new ninth edition of PRICE THEORY AND APPLICATIONS delivers a text that will both challenge and intrigue students as it equips them with the tools and skills to apply economic principles to the world around them. Inductive, hands on, and highly interactive, the book is intellectually rigorous yet student-friendly, with countless applications and resources to help readers fully understand concepts. Using the same humorous, easy-to-read approach as his popular The Armchair Economist, Steven Landsburg offers thorough coverage of traditional topics of intermediate price theory as well as emerging issues, such as the economics of information. Social welfare is a unifying concept throughout.
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Table of Contents
1. Supply, Demand, and Equilibrium.
2. Prices, Costs, and the Gains from Trade.
3. The Behavior of Consumers.
Appendix: Cardinal Utility.
4. Consumers in the Marketplace.
5. The Behavior of Firms.
6. Production and Costs.
8. Welfare Economics and the Gains from Trade.
Appendix: Normative Criteria.
9. Knowledge and Information.
11. Market Power, Collusion, and Oligopoly.
12. The Theory of Games.
13. External Costs and Benefits.
14. Common Property and Public Goods.
15. The Demand for Factors of Production.
16. The Market for Labor.
17. Allocating Goods over Time.
18. Risk and Uncertainty.
19. What Is Economics?
Appendix A: Calculus Supplement.
Appendix B: Answers to Exercises.
Appendix C: Answers to Problem Sets.