Introduction: markets and prices. Preliminaries
The basics of supply and demand
Producers, consumers, and competitive markets. Consumer behavior
Individual and market demand
Uncertainty and consumer behavior
Production
The cost of production
Profit maximization and competitive supply
The analysis of competitive markets
Market structure and competitive strategy. Market power: monopoly and monopsony
Pricing with market power
Monopolistic competition and oligopoly
Game theory and competitive strategy
Market for factor inputs
Investment, time, and capital markets
Information, market failure, and the role of government. General equilibrium and economic efficiency
Markets with assymetric information
Externalities and public goods
Behavioral economics
Appendix: the basics of regression
Glossary
Answers to selected exercises
Photo credits
Index

Microeconomics exposes readers to topics that play a central role in microeconomics. From game theory and competitive strategy, to the roles of uncertainty and information, and the analysis of pricing by firms with market power, the text helps you understand what’s going on in the world of business. It also shows you how microeconomics can be used as a practical tool for decision-making and for designing and understanding public policy. The 9th Edition further illustrates microeconomics’ relevance and usefulness with new coverage and examples, and an improved exposition that is clear and accessible as well as lively and engaging. With Microeconomics, you will be able to fully appreciate how a modern economy functions.