Phu Xuan University Library
|
PXU E-LIB
Sign in
Principles of Microeconomics 3e

External

Principles of Microeconomics 3e

Principles of Microeconomics 3e covers the scope and sequence of most one semester introductory microeconomics courses. The third edition takes a balanced approach to the theory and application of microeconomics concepts. The text uses conversational language and ample illustrations to explore economic theories, and provides a wide array of examples using both fictional and real-world applications. The third edition has been carefully and thoroughly updated to reflect recent developments.

Social Sciences
Author
OpenStax
Publisher
LibreTexts
Source
LibreTexts
License
CC BY
Language
EN
Category
Economics
Read online Download PDF (open licence)
Contents· 272 sections
  1. 1.01: Welcome to Economics
  2. 1.1.01: Introduction
  3. 1.1.02: What Is Economics and Why Is It Important
  4. 1.1.03: Microeconomics and Macroeconomics
  5. 1.1.04: How Economists Use Theories and Models to Understand Economic Issues
  6. 1.1.05: How To Organize Economies- An Overview of Economic Systems
  7. 1.1.06: Key Terms
  8. 1.1.07: Key Concepts and Summary
  9. 1.1.08: Self-Check Questions
  10. 1.1.09: Review Questions
  11. 1.1.10: Critical Thinking Questions
  12. 1.02: Choice in a World of Scarcity
  13. 1.2.01: Introduction
  14. 1.2.02: How Individuals Make Choices Based on Their Budget Constraint
  15. 1.2.03: The Production Possibilities Frontier and Social Choices
  16. 1.2.04: Confronting Objections to the Economic Approach
  17. 1.2.05: Key Terms
  18. 1.2.06: Key Concepts and Summary
  19. 1.2.07: Self-Check Questions
  20. 1.2.08: Review Questions
  21. 1.2.09: Critical Thinking Questions
  22. 1.2.10: Problems
  23. 1.03: Demand and Supply
  24. 1.3.01: Introduction
  25. 1.3.02: Free Markets and Efficiency
  26. 1.3.03: Free Markets Enhanced Growth
  27. 1.3.3.01: Free Markets - Sustainability
  28. 1.3.3.1.01: Free Markets Enhanced Growth
  29. 1.3.04: Demand Supply and Equilibrium in Markets for Goods and Services
  30. 1.3.05: Shifts in Demand and Supply for Goods and Services
  31. 1.3.06: Changes in Equilibrium Price and Quantity- The Four-Step Process
  32. 1.3.07: Price Ceilings and Price Floors
  33. 1.3.08: Demand Supply and Efficiency
  34. 1.3.09: Key Terms
  35. 1.3.10: Key Concepts and Summary
  36. 1.3.11: Self-Check Questions
  37. 1.3.12: Review Questions
  38. 1.3.13: Critical Thinking Questions
  39. 1.3.14: Problems
  40. 1.04: Elasticity
  41. 1.4.01: Introduction
  42. 1.4.02: Rubber Band Theory
  43. 1.4.03: Price Elasticity of Demand and Price Elasticity of Supply
  44. 1.4.04: Polar Cases of Elasticity and Constant Elasticity
  45. 1.4.05: Elasticity and Pricing
  46. 1.4.06: Elasticity in Areas Other Than Price
  47. 1.4.07: Key Terms
  48. 1.4.08: Key Concepts and Summary
  49. 1.4.09: Self-Check Questions
  50. 1.4.10: Review Questions
  51. 1.4.11: Critical Thinking Questions
  52. 1.4.12: Problems
  53. 1.05: Poverty and Economic Inequality
  54. 1.5.01: Introduction
  55. 1.5.02: Drawing the Poverty Line
  56. 1.5.03: The Poverty Trap
  57. 1.5.04: The Safety Net
  58. 1.5.05: Income Inequality- Measurement and Causes
  59. 1.5.06: Government Policies to Reduce Income Inequality
  60. 1.5.07: Key Terms
  61. 1.5.08: Key Concepts and Summary
  62. 1.5.09: Self-Check Questions
  63. 1.5.10: Review Questions
  64. 1.5.11: Critical Thinking Questions
  65. 1.5.12: Problems
  66. 1.06: Environmental Protection and Negative Externalities
  67. 1.6.01: Introduction
  68. 1.6.02: The Economics of Pollution
  69. 1.6.03: Command-and-Control Regulation
  70. 1.6.04: Market-Oriented Environmental Tools
  71. 1.6.05: The Benefits and Costs of U.S. Environmental Laws
  72. 1.6.06: International Environmental Issues
  73. 1.6.07: The Tradeoff between Economic Output and Environmental Protection
  74. 1.6.08: Key Terms
  75. 1.6.09: Key Concepts and Summary
  76. 1.6.10: Self-Check Questions
  77. 1.6.11: Review Questions
  78. 1.6.12: Critical Thinking Questions
  79. 1.6.13: Problems
  80. 1.07: Positive Externalities and Public Goods
  81. 1.7.01: Introduction
  82. 1.7.02: Investments in Innovation
  83. 1.7.03: How Governments Can Encourage Innovation
  84. 1.7.04: Public Goods
  85. 1.7.05: Key Terms
  86. 1.7.06: Key Concepts and Summary
  87. 1.7.07: Self-Check Questions
  88. 1.7.08: Review Questions
  89. 1.7.09: Critical Thinking Questions
  90. 1.7.10: Problems
  91. 1.08: Production Costs and Industry Structure
  92. 1.8.01: Introduction
  93. 1.8.02: Explicit and Implicit Costs and Accounting and Economic Profit
  94. 1.8.03: Production in the Short Run
  95. 1.8.04: Costs in the Short Run
  96. 1.8.05: Production in the Long Run
  97. 1.8.06: Costs in the Long Run
  98. 1.8.07: Key Terms
  99. 1.8.08: Key Concepts and Summary
  100. 1.8.09: Self-Check Questions
  101. 1.8.10: Review Questions
  102. 1.8.11: Critical Thinking Questions
  103. 1.8.12: Problems
  104. 1.09: Perfect Competition
  105. 1.9.01: Introduction
  106. 1.9.02: Perfect Competition and Why It Matters
  107. 1.9.03: How Perfectly Competitive Firms Make Output Decisions
  108. 1.9.04: Entry and Exit Decisions in the Long Run
  109. 1.9.05: Efficiency in Perfectly Competitive Markets
  110. 1.9.06: Key Terms
  111. 1.9.07: Key Concepts and Summary
  112. 1.9.08: Self-Check Questions
  113. 1.9.09: Review Questions
  114. 1.9.10: Critical Thinking Questions
  115. 1.9.11: Problems
  116. 1.10: Monopoly
  117. 1.10.01: Introduction
  118. 1.10.02: Market Environment
  119. 1.10.03: How Monopolies Form- Barriers to Entry
  120. 1.10.04: How a Profit-Maximizing Monopoly Chooses Output and Price
  121. 1.10.05: Key Terms
  122. 1.10.06: Key Concepts and Summary
  123. 1.10.07: Self-Check Questions
  124. 1.10.08: Review Questions
  125. 1.10.09: Critical Thinking Questions
  126. 1.10.10: Problems
  127. 1.11: Monopolistic Competition and Oligopoly
  128. 1.11.01: Introduction
  129. 1.11.02: Monopolistic Competition
  130. 1.11.03: Oligopoly
  131. 1.11.04: Matrix Games
  132. 1.11.05: Nash Equilibrium
  133. 1.11.06: Mixed Strategies
  134. 1.11.07: Subgame Perfection
  135. 1.11.08: Examples
  136. 1.11.09: Key Terms
  137. 1.11.10: Key Concepts and Summary
  138. 1.11.11: Self-Check Questions
  139. 1.11.12: Review Questions
  140. 1.11.13: Critical Thinking Questions
  141. 1.11.14: Problems
  142. 1.12: Monopoly and Antitrust Policy
  143. 1.12.01: Introduction
  144. 1.12.02: Corporate Mergers
  145. 1.12.03: Regulating Anticompetitive Behavior
  146. 1.12.04: Regulating Natural Monopolies
  147. 1.12.05: The Great Deregulation Experiment
  148. 1.12.06: Key Terms
  149. 1.12.07: Key Concepts and Summary
  150. 1.12.08: Self-Check Questions
  151. 1.12.09: Review Questions
  152. 1.12.10: Critical Thinking Questions
  153. 1.12.11: Problems
  154. 1.13: Consumer Choices
  155. 1.13.01: Introduction
  156. 1.13.02: Consumption Choices
  157. 1.13.03: How Changes in Income and Prices Affect Consumption Choices
  158. 1.13.04: Behavioral Economics- An Alternative Framework for Consumer Choice
  159. 1.13.05: Key Terms
  160. 1.13.06: Key Concepts and Summary
  161. 1.13.07: Self-Check Questions
  162. 1.13.08: Review Questions
  163. 1.13.09: Critical Thinking Questions
  164. 1.13.10: Problems
  165. 1.14: Labor and Financial Markets
  166. 1.14.01: Introduction
  167. 1.14.02: Demand and Supply at Work in Labor Markets
  168. 1.14.03: Demand and Supply in Financial Markets
  169. 1.14.04: The Market System as an Efficient Mechanism for Information
  170. 1.14.05: Key Terms
  171. 1.14.06: Key Concepts and Summary
  172. 1.14.07: Self-Check Questions
  173. 1.14.08: Review Questions
  174. 1.14.09: Critical Thinking Questions
  175. 1.14.10: Problems
  176. 1.15: Labor Markets and Income
  177. 1.15.01: Introduction
  178. 1.15.02: The Theory of Labor Markets
  179. 1.15.03: Wages and Employment in an Imperfectly Competitive Labor Market
  180. 1.15.04: Market Power on the Supply Side of Labor Markets- Unions
  181. 1.15.05: Bilateral Monopoly
  182. 1.15.06: Employment Discrimination
  183. 1.15.07: Immigration
  184. 1.15.08: Key Terms
  185. 1.15.09: Key Concepts and Summary
  186. 1.15.10: Self-Check Questions
  187. 1.15.11: Review Questions
  188. 1.15.12: Critical Thinking Questions
  189. 1.16: Information Risk and Insurance
  190. 1.16.01: Introduction
  191. 1.16.02: The Problem of Imperfect Information and Asymmetric Information
  192. 1.16.03: Insurance and Imperfect Information
  193. 1.16.04: Key Terms
  194. 1.16.05: Key Concepts and Summary
  195. 1.16.06: Self-Check Questions
  196. 1.16.07: Review Questions
  197. 1.16.08: Critical Thinking Questions
  198. 1.16.09: Problems
  199. 1.17: Financial Markets
  200. 1.17.01: Introduction
  201. 1.17.02: How Businesses Raise Financial Capital
  202. 1.17.03: How Households Supply Financial Capital
  203. 1.17.04: How to Accumulate Personal Wealth
  204. 1.17.05: Key Terms
  205. 1.17.06: Key Concepts and Summary
  206. 1.17.07: Self-Check Questions
  207. 1.17.08: Review Questions
  208. 1.17.09: Critical Thinking Questions
  209. 1.17.10: Problems
  210. 1.18: Public Economy
  211. 1.18.01: Introduction
  212. 1.18.02: Voter Participation and Costs of Elections
  213. 1.18.03: Special Interest Politics
  214. 1.18.04: Flaws in the Democratic System of Government
  215. 1.18.05: Key Terms
  216. 1.18.06: Key Concepts and Summary
  217. 1.18.07: Self-Check Questions
  218. 1.18.08: Review Questions
  219. 1.18.09: Critical Thinking Questions
  220. 1.18.10: Problems
  221. 1.19: International Trade
  222. 1.19.01: Introduction
  223. 1.19.02: Trade in our daily lives
  224. 1.19.03: Absolute and Comparative Advantage
  225. 1.19.04: What Happens When a Country Has an Absolute Advantage in All Goods
  226. 1.19.05: Intra-industry Trade between Similar Economies
  227. 1.19.06: Trade barriers- Tariffs subsidies and quotas
  228. 1.19.07: The Benefits of Reducing Barriers to International Trade
  229. 1.19.08: Key Terms
  230. 1.19.09: Key Concepts and Summary
  231. 1.19.10: Self-Check Questions
  232. 1.19.11: Review Questions
  233. 1.19.12: Critical Thinking Questions
  234. 1.19.13: Problems
  235. 1.20: Globalization and Protectionism
  236. 1.20.01: Introduction
  237. 1.20.02: Protectionism- An Indirect Subsidy from Consumers to Producers
  238. 1.20.03: International Trade and Its Effects on Jobs Wages and Working Conditions
  239. 1.20.04: Arguments in Support of Restricting Imports
  240. 1.20.05: How Governments Enact Trade Policy- Globally Regionally and Nationally
  241. 1.20.06: The Tradeoffs of Trade Policy
  242. 1.20.07: Key Terms
  243. 1.20.08: Key Concepts and Summary
  244. 1.20.09: Self-Check Questions
  245. 1.20.10: Review Questions
  246. 1.20.11: Critical Thinking Questions
  247. 1.20.12: Problems
  248. 1.21: Appendix
  249. 1.21.01: Appendix A- The Use of Mathematics in Principles of Economics
  250. 1.21.02: Appendix B- Indifference Curves
  251. 1.21.03: Appendix C- Present Discounted Value
  252. 1.21.04: Answer Key
  253. 1.21.4.01: Chapter 1
  254. 1.21.4.02: Chapter 2
  255. 1.21.4.03: Chapter 3
  256. 1.21.4.04: Chapter 4
  257. 1.21.4.05: Chapter 5
  258. 1.21.4.06: Chapter 6
  259. 1.21.4.07: Chapter 7
  260. 1.21.4.08: Chapter 8
  261. 1.21.4.09: Chapter 9
  262. 1.21.4.10: Chapter 10
  263. 1.21.4.11: Chapter 11
  264. 1.21.4.12: Chapter 12
  265. 1.21.4.13: Chapter 13
  266. 1.21.4.14: Chapter 14
  267. 1.21.4.15: Chapter 15
  268. 1.21.4.16: Chapter 16
  269. 1.21.4.17: Chapter 17
  270. 1.21.4.18: Chapter 18
  271. 1.21.4.19: Chapter 19
  272. 1.21.4.20: Chapter 20