Microeconomics [antikvár]

Preface Microeconomics is a dynamic field with an expanding core of basic theory and a growing range of applications. In a textbook, as in the classroom, it is important that there be a proper balance between classic and more modern approaches and ideas. My top priority in this edition has been to expand the coverage of relatively new theoretical models and concepts, as well as to make sure that the applications and examples continue to deal fully with the problems of today. The chapters on monopolistic competition (Chapter 10) and oligopoly (Chapter 11) have been completely rewritten. In Chapter 10, major new sections have been added on advertising, including (1) a detailed treatment of the Dorfman-Steiner rule for optimal advertising expenditures, and (2) a discussion of the social value of advertising. Less emphasis is put on the Chamberlin model and its frailties, although this model is still treated fully. I believe that this new chapter has a more modern and less historical character than its predecessor. In Chapter 11, entirely new sections have been added on (1) entry deterrence (from a game theoretic viewpoint), (2) the Prisoner's Dilemma, (3) Nash equilibria, (4) repeated Prisoner's Dilemma and "tit for tat," and (5) contestable markets. The material on cost-plus pricing has been expanded and sharp-