Part 1 Introduction to Microeconomics

Chapter 1 Analyzing Economic Problems 1

Chapter 2 Demand and Supply Analysis 26

Appendix: Price Elasticity of Demand Along a Constant Elasticity Demand Curve 74

Part 2 Consumer Theory

Chapter 3 Consumer Preferences and the Concept of Utility 75

Chapter 4 Consumer Choice 105

Appendix 1: The Mathematics of Consumer Choice 145

Appendix 2: The Time Value of Money 146

Chapter 5 The Theory of Demand 152

Part 3 Production and Cost Theory

Chapter 6 Inputs and Production Functions 204

Appendix: The Elasticity of Substitution for a Cobb-Douglas Production Function 247

Chapter 7 Costs and Cost Minimization 249

Appendix: Advanced Topics in Cost Minimization 285

Chapter 8 Cost Curves 289

Appendix: Shephard's Lemma and Duality 327

Part 4 Perfect Competition

Chapter 9 Perfectly Competitive Markets 331

Appendix: Profit Maximization Implies Cost Minimization 388

Chapter 10 Competitive Markets: Applications 390

Part 5 Market Power

Chapter 11 Monopoly and Monopsony 442

Chapter 12 Capturing Surplus 489

Part 6 Imperfect Competition and Strategic Behavior

Chapter 13 Market Structure and Competition 532

Appendix: The Cournot Equilibrium and the Inverse Elasticity Pricing Rule 574

Chapter 14 Game Theory and Strategic Behavior 575

Part 7 Special Topics

Chapter 15 Risk and Information 608

Chapter 16 General Equilibrium Theory 654

Appendix: Deriving the Demand and Supply Curves for General Equilibrium 698

Chapter 17 Externalities and Public Goods 703

Mathematical Appendix 739

Solutions to Selected Problems 759

Glossary 781

Index 789