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Open up the world of economics with Arnold/Arnold/Arnold's "Microeconomics," 15th Edition. Discussions with memorable, everyday examples illustrate unexpected places microeconomics occur. Students see how microeconomic forces link to daily events, shaping life 24/7. New boxed 24/7 applications features deal with the historical past. This edition discusses AI and the economy, especially as it relates to innovation, prices and jobs. New content includes expanded discussions on topics like tariffs and imports, the economics of knowledge, a clearer understanding of equilibrium, the practical implications of concepts like transaction costs, sunk costs, the social discount rate and asymmetric information.