Microeconomics (Schaum’s Outline Series) – Dominick Salvatore – 4th Edition

Preface

Chapter 1 Introduction
1.1 The Purpose of Theory
1.2 The Problem of Scarcity
1.3 The Function of Microeconomic Theory
1.4 Markets, Functions, and Equilibrium
1.5 Comparative Statics and Dynamics
1.6 Partial Equilibrium and General Equilibrium Analysis
1.7 Positive Economics and Normative Economics

Chapter 2 Demand, Supply, and Equilibrium: An Overview
2.1 The Individual´s Demand for a Commodity
2.2 The Law of Negatively Sloped Demand
2.3 Shifts in the Individual´s Demand Curve
2.4 The Market Demand for a Commodity
2.5 The Single Producer´s Supply of a Commodity
2.6 The Shape of the Supply Curve
2.7 Shifts in the Single Producer´s Supply Curve
2.8 The Market Supply of a Commodity
2.9 Equilibrium
2.10 Types of Equilibria
2.11 Shifts in Demand and Supply, and Equilibrium

Chapter 3 The Measurement of Elasticities
3.1 Price Elasticity of Demand
3.2 Arc and Point Elasticity
3.3 Point Elasticity and Total Expenditures
3.4 Income Elasticity of Demand
3.5 Cross Elasticity of Demand
3.6 Price Elasticity of Supply

Chapter 4 Consumer Demand Theory
4.1 Total and Marginal Utility
4.2 Consumer Equilibrium
4.3 Indifference Curves: Definition
4.4 The Marginal Rate of Substitution
4.5 Characteristics of Indifference Curves
4.6 The Budget Constraint Line
4.7 Consumer Equilibrium
4.8 Exchange
4.9 The Income-Consumption Curve and the Engel Curve
4.10 The Price-Consumption Curve and the Consumer´s Demand Curve
4.11 Separation of the Substitution and Income Effects

Chapter 5 Advanced Topics in Consumer Demand Theory
5.1 The Substitution Effect According to Hicks and Slutsky
5.2 The Theory of Revealed Preference
5.3 Index Numbers and Changes in the Standard of Living
5.4 Utility Theory Under Uncertainty
5.5 A New Approach to Consumer Theory—the Demand for Characteristics
5.6 Empirical Demand Curves

Chapter 6 Theory of Production
6.1 Production With One Variable Input: Total, Average, and Marginal Product
6.2 The Shapes of the Average and Marginal Product Curves
6.3 Stages of Production
6.4 Production With Two Variable Inputs: Isoquants
6.5 The Marginal Rate of Technical Substitution
6.6 Characteristics of Isoquants
6.7 Isocosts
6.8 Producer Equilibrium
6.9 Expansion Path
6.10 Factor Substitution
6.11 Constant, Increasing, and Decreasing Returns To Scale

Chapter 7 Costs of Production
7.1 Short-Run Total Cost Curves
7.2 Short-Run Per-Unit Cost Curves
7.3 The Geometry of Short-Run Per-Unit Cost Curves
7.4 The Long-Run Average Cost Curve
7.5 The Shape of The Long-Run Average Cost Curve
7.6 The Long-Run Marginal Cost Curve
7.7 The Long-Run Total Cost Curve
7.8 The Cobb-Douglas Production Function
7.9 X-Inefficiency
7.10 Technological Progress
Midterm Examination

Chapter 8 Price and Output Under Perfect Competition
8.1 Perfect Competition Defined
8.2 Price Determination in the Market Period
8.3 Short-Run Equilibrium of the Firm: Total Approach
8.4 Short-Run Equilibrium of the Firm: Marginal Approach
8.5 Short-Run Profit or Loss?
8.6 Short-Run Supply Curve
8.7 Long-Run Equilibrium of the Firm
8.8 Constant Cost Industries
8.9 Increasing Cost Industries
8.10 Decreasing Cost Industries

Chapter 9 Price and Output Under Pure Monopoly
9.1 Pure Monopoly Defined
9.2 The MR Curve and Elasticity
9.3 Short-Run Equilibrium Under Pure Monopoly: Total Approach
9.4 Short-Run Equilibrium Under Pure Monopoly: Marginal Approach
9.5 Long-Run Equilibrium Under Pure Monopoly
9.6 Regulation of Monopoly: Price Control
9.7 Regulation of Monopoly: Lump-Sum Tax
9.8 Regulation of Monopoly: Per-Unit Tax
9.9 Price Discrimination

Chapter 10 Price and Output Under Monopolistic Competition and Oligopoly
10.1 Monopolistic Competition Defined
10.2 Short-Run Equilibrium Under Monopolistic Competition
10.3 Long-Run Equilibrium Under Monopolistic Competition
10.4 Oligopoly Defined
10.5 The Cournot Model
10.6 The Edgeworth Model
10.7 The Chamberlin Model
10.8 The Kinked Demand Curve Model
10.9 The Centralized Cartel Model
10.10 The Market-Sharing Cartel Model
10.11 Price Leadership Model
10.12 Long-Run Equilibrium Under Oligopoly

Chapter 11 Recent and Advanced Topics in Market Structure
11.1 The Lerner Index as a Measure of a Firm´s Monopoly Power
11.2 The Herfindahl Index as Measure of Monopoly Power in an Industry
11.3 Contestable-Market Theory
11.4 Peak-Load Pricing
11.5 Cost-Plus Pricing
11.6 Transfer Pricing

Chapter 12 Game Theory and Oligopolistic Behavior
12.1 Game Theory: Definitions and Objectives
12.2 Dominant Strategy
12.3 Nash Equilibrium
12.4 The Prisoners´ Dilemma
12.5 Price and Nonprice Competition and Cartel Cheating
12.6 Repeated Games and Tit-For-Tat Strategy
12.7 Strategic Behavior

Chapter 13 Input Pricing and Employment
Perfect Competition in the Product and Input Markets
13.1 Profit Maximization and Least-Cost Input Combinations
13.2 The Demand Curve of the Firm for One Variable Input
13.3 The Demand Curve of the Firm for One of Several Variable Inputs
13.4 The Market Demand Curve for an Input
13.5 The Market Supply Curve for an Input
13.6 Pricing and Level of Employment of an Input
13.7 Rent and Quasi-Rent
Perfect Competition in the Market and Monopoly in the Product Market
13.8 Profit Maximization and Least-Cost Input Combinations
13.9 The Demand Curve of the Firm for One Variable Input
13.10 The Demand Curve of the Firm for One of Several Variable Inputs
13.11 The Market Demand Curve and Input Pricing
Monopsony
13.12 Input Supply Curve and Marginal Resource Costs
13.13 Pricing and Employment for One Variable Input
13.14 Pricing and Employment of Several Variable Inputs

Chapter 14 General Equilibrium and Welfare Economics
General Equilibrium
14.1 Partial and General Equilibrium Analysis
14.2 General Equilibrium of Exchange
14.3 General Equilibrium of Production
14.4 The Transformation Curve
14.5 The Slope of the Transformation Curve
14.6 General Equilibrium of Production and Exchange
Welfare Economics
14.7 Welfare Economics Defined
14.8 The Utility-Possibility Curve
14.9 Grand Utility-Possibility Curve
14.10 The Social Welfare Function
14.11 The Point of Maximum Social Welfare
14.12 Perfect Competition and Economic Efficiency
14.13 Externalities and Market Failure
14.14 Public Goods

Chapter 15 The Economics of Information
15.1 The Economics of Search
15.2 Searching for The Lowest Price
15.3 Asymmetric Information: The Market for Lemons and Adverse Selection
15.4 Market Signaling
15.5 The Problem of Moral Hazard
15.6 The Principal-Agent Problem
15.7 The Efficiency Wage Theory
Final Examination
Index