» Từ khóa: economic principles

Chapter 6 - Elasticity. Both the elasticity coefficient and the total revenue test for measuring price elasticity of demand are presented in this chapter. The text discusses the major determinants of price elasticity. The chapter reviews a number of applications and presents empirical estimates for a variety of products. Cross- and income elasticities of demand and price elasticity of supply are also examined. The Last Word is about how firms...

 19 p hce 28/04/2016 138 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Price elasticity of demand, Price elasticity of supply

Chapter 11 - Pure competition in the long run. After studying this chapter, you should be able to: Explain how the long run differs from the short run in pure competition; describe how profits and losses drive the long-run adjustment process of pure competition; explain the differences between constant-cost, increasing-cost, and decreasing-cost industries; show how long-run equilibrium in pure competition produces an efficient allocation of...

 12 p hce 28/04/2016 141 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Pure competition, Long run supply curves

Chapter 5 - Government’s role and government failure. This chapter will discuss how government’s power to coerce can be economically beneficial; difficulties associated with managing and directing the government; and government failure and why it happens.

 10 p hce 28/04/2016 309 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Government’s role, Government failure

Chapter 10 - Pure competition in the short run. After studying this chapter, you should be able to: Give the names and summarize the main characteristics of the four basic market models, list the conditions required for purely competitive markets, explain how demand is seen by a purely competitive seller,...

 11 p hce 28/04/2016 142 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Pure competition, Market models

Chapter 7 - Utility maximization. In this chapter, the law of diminishing marginal utility is developed, which leads into a detailed discussion of the theory of consumer choice. The numerical illustrations of the utility maximizing rule should be viewed as a pedagogical technique, rather than an attempt to portray the actual choice making process of consumers. The chapter concludes with a discussion of how society might use this theory to...

 8 p hce 28/04/2016 303 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Utility maximization, Theory of consumer behavior

Chapter 8 - Behavioral economics. This chapter will define behavioral economics and explain how it contrasts with neoclassical economics. It will relate how prospect theory helps explain many consumer behaviors; and how time inconsistency and myopia cause people to make suboptimal long-run decisions. It will also define fairness and give examples of how it affects behavior in the economy.

 12 p hce 28/04/2016 352 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Behavioral economics, Prospect theory

Chapter 12 - Pure monopoly. This chapter is divided into seven learning objectives: the characteristics of pure monopoly, the barriers to entry that create and protect monopolies, how demand is viewed by a monopolist, price and output determination under monopoly, the economic effects of monopoly, price discrimination, and the regulation of monopolies.

 16 p hce 28/04/2016 394 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Pure monopoly, Monopoly demand

Chapter 17 - Natural resource and energy economics. In this chapter we start looking at the demand for natural resources, including energy, as the world’s population changes. First we will investigate the changes in the global population and what this might mean in terms of the availability of natural resources. In this analysis, resource consumption per capita is included. We will discuss the fact that economists don’t worry that the...

 16 p hce 28/04/2016 350 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Natural resource, Energy economics

The demand for resources, mainly labor, is concentrated on in this chapter. Resource prices and their implications on money income, cost minimization, resource allocation, and policies are examined. Then the resource demand curve is derived in purely competitive and imperfectly competitive markets. The optimal combination of resources and the least cost rule and profit maximization are looked at as well. The Last Word is about how ATMs have...

 16 p hce 28/04/2016 406 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Demand for resources, Marginal productivity theory

Chapter 13A - Additional game theory applications. This appendix provides additional examples of oligopoly-based examples of game theory. Game theory explains mutual interdependence and strategic behavior.

 9 p hce 28/04/2016 134 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Game theory, Empty threats

Chapter 13 - Monopolistic competition and oligopoly. Pure competition and pure monopoly are the exceptions, not the rule, in the U.S. economy. In this chapter, the two market structures that fall between the extremes are discussed. Monopolistic competition contains a considerable amount of competition mixed with a small dose of monopoly power. Oligopoly, in contrast, implies a blend of greater monopoly power and less competition.

 20 p hce 28/04/2016 151 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Monopolistic competition, Oligopolistic industries

Chapter 13W - Technology, R&D, and efficiency. This chapter addresses the firm’s ability to determine its optimal amount of research and development (R&D) and how entrepreneurs and innovators further technological advances. Many of today’s companies like Nike, Intel, and Wal-Mart owe much of their success to technological advances; differentiating with invention, innovation, and technological diffusion.

 17 p hce 28/04/2016 419 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Technological advance, Market structure