Microeconomics - Pindyck, Rubinfeld (3Ed 1995).pdf - EKONOMIA - ola1988.1988

Third Edition

MICROECONOMICS

Robert S. Pindyck

Daniel L.Rubinfeld

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Contents

PART I Introduction: Markets and Prices

1 PRELIMINARIES

1.1 The Use and Limitations of Microeconomic Theory 4

1.2 Positive Versils Normative Analysis 5

1.3 Why Study Microeconomics? 8

Corporate Decision Making: Ford Introduces the Taurus 8

Public Policy Design: Autornobile- Emission Standards 9

1.4 What Is a Market? 10

Competitive Versus Nonconapetitive Markets 11

Market Price 11

The Extent of a Market 12

1.5 Real Versus Nominal Prices 13

2 THE BASICS OF SUPPLY AND DEMAND

2.1 TheMarketMechanism 18

2.2 Shifts in Supply and Demand 20

2.3 Elasticities of Supply and Demand 28

2.4 Short-Run Versus Long-Run Elasticities 32

Demand 32

Supply 37

*2.5 Understanding and Predicting the Effects of Changing Market

Conditions 41

2.6 Effects of Government Intervention-Price Controls 49

PART I1 Producers, Consumers, and Competitive Markets

3 CONSUMER BEHAVIOR

3.1 Consumer Preferences 58

Some Basic Assr~mptions 59

Indifference Curves 59

Ordinal Versus Cardirial Rankings 63

The Marginal Rate of Substitution 64

Perfect Srlb,stitute,s and Perfect Cornplemerat,~ 66

3.2 Budget Constraints 69

The Budget Line 69

Tlze Effects of Changes in Income and Prices 71

Microeconomics - Pindyck, Rubinfeld (3Ed 1995).pdf

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