Microeconomics, 5th Edition gives students the most effective approach for learning microeconomic tools and concepts. This text provides an accessible, integrated structure with numerous practice problems, exercises, and engaging applications. Worked-out Learning-by-Doing problems, mathematical and graphical data, and verbal explanations enable business and economics majors to recognize significant data, patterns, and trends.

Table of Contents

PART 1 INTRODUCTION TO MICROECONOMICS
1. Analyzing Economic Problems
2. Demand and Supply Analysis

PART 2 CONSUMER THEORY
3. Consumer Preferences and the Concept of Utility
4. Consumer Choice
5. The Theory of Demand

PART 3 PRODUCTION AND COST THEORY
6. Inputs and Production Functions
7. Costs and Cost Minimization
8. Cost Curves

PART 4 PERFECT COMPETITION
9. Perfectly Competitive Markets
10. Competitive Markets: Applications

PART 5 MARKET POWER
11. Monopoly and Monopsony
12. Capturing Surplus

PART 6 IMPERFECT COMPETITION AND STRATEGIC BEHAVIOR
13. Market Structure and Competition
14. Game Theory and Strategic Behavior

PART 7 SPECIAL TOPICS
15. Risk and Information
16. General Equilibrium Theory
17. Externalities and Public Goods

Mathematical Appendix
Solutions to Selected Problems
Glossary
Index