TY - BOOK AU - Besanko, David AU - Braeutigam, Ronald AU - Chakraborty, Tamali TI - Microeconomics SN - 9789354249136 U1 - 330 PY - 2021/// CY - India PB - Wiley India Pvt. Ltd. KW - Microeconomics N1 - Part 1 Introduction to Microeconomics Chapter 1 Analyzing Economic Problems 1.1 Why Study Micro-Economics? 1.2 Three Key Analytical Tools 1.3 Positive and Normative Analysis Chapter 2 Demand and Supply Analysis 2.1 Demand, Supply, And Market Equilibrium 2.2 Price Elasticity of Demand 2.3 Other Elasticities 2.4 Elasticity in the Long Run Versus 2.5 Back-of-the-Envelope Calculations Part 2 Consumer Theory Chapter 3 Consumer Preferences and the Concept of Utility 3.1 Representations of Preferences 3.2 Utility Functions 3.3 Special Preferences 3.4 Behavioral Aspects of Choice Chapter 4 Consumer Choice 4.1 The Budget Constraint 4.2 Optimal Choice 4.3 Consumer Choice with Composite Goods 4.4 Revealed Preference 4.5 Maximizing Utility Using Lagrange Multipliers Chapter 5 The Theory of Demand 5.1 Optimal Choice and Demand 5.2 Change in the Price of a Good: Substitution Effect and Income Effect 5.3 Change in the Price of a Good: The Concept of Consumer Surplus 5.4 Market Demand 5.5 The Choice of Labor and Leisure 5.6 Consumer Price Indices Part 3 Production and Cost Theory Chapter 6 Inputs and Production Functions 6.1 Introduction to Inputs and Production Functions 6.2 Production Functions with a Single Input 6.3 Production Functions with More than One Input 6.4 Substitutability Among Inputs 6.5 Returns to Scale 6.6 Technological Progress Chapter 7 Costs and Cost Minimization 7.1 Cost Concepts for Decision Making 7.2 The Cost-Minimization Problem 7.3 Comparative Statics Analysis of the Cost-Minimization Problem 7.4 Short-Run Cost Minimization 7.5 Minimizing Long-Run Costs Using Lagrange Multipliers Chapter 8 Cost Curves 8.1 Long-Run Cost Curves 8.2 Short-Run Cost Curves 8.3 Special Topics in Cost 8.4 Estimating Cost Functions Part 4 Perfect Competition Chapter 9 Demand Forecasting 9.1 Forecasting Principles: Types, Methods, and Data 9.2 Qualitative Versus Quantitative Methods of Forecasting 9.3 Quantitative Methods of Forecasting 9.4 Forecasting Error, Accuracy, and Its Measurement 9.5 How to Select the Right Forecasting Model 9.6 Other Methods of Forecasting 9.7 Software Chapter 10 Perfectly Competitive Markets 10.1 What is Perfect Competition? 10.2 Profit Maximization by a Price-Taking Firm 10.3 How the Market Price Is Determined 10.4 How the Market Price Is Determined 10.5 Economic Rent and Producer Surplus Part 5 Market Power Chapter 11 Competitive Markets: Applications 11.1 The Invisible Hand, Excise Taxes, and Subsidies 11.2 Price Ceilings and Floors 11.3 Production Quotas 11.4 Price Supports in the Agricultural Sector 11.5 Import Quotas and Tariffs Chapter 12 Monopoly and Monopsony 12.1 Profit Maximization by a Monopolist 12.2 The Importance of Price Elasticity of Demand 12.3 Comparative Statics for Monopolists 12.4 Monopoly with Multiple Plants and Markets 12.5 The Welfare Economics of Monopoly 12.6 Why do Monopoly Markets Exist? 12.7 Monopsony Part 6 I Mperfect Competition and Strategic Behavior Chapter 13 Capturing Surplus 13.1 Capturing Surplus 13.2 First-Degree Price Discrimination: Making the Most from Each Consumer 13.3 Second-Degree Price Discrimination: Quantity Discounts 13.4 Third-Degree Price Discrimination: Different Prices for Different Market Segments 13.5 Tying (Tie-In Sales) 13.6 Advertising Chapter 14 Market Structure and Competition 14.1 Describing and Measuring Market Structure 14.2 Oligopoly with Homogeneous Products 14.3 Dominant Firm Markets 14.4 Oligopoly with Horizontally Differentiated Products 14.5 Monopolistic Competition Part 7 Special Topics Chapter 15 Game Theory and Strategic Behavior 15.1 The Concept of Nash Equilibrium 15.2 The Repeated Prisoners’ Dilemma 15.3 Sequential-Move Games and Strategic Moves Chapter 16 Risk and Information 16.1 Describing Risky Outcomes 16.2 Evaluating Risky Outcomes 16.3 Bearing and Eliminating Risk 16.4 Analyzing Risky Decisions 16.5 Auctions Chapter 17 General Equilibrium Theory 17.1 General Equilibrium Analysis: Two Markets 17.2 General Equilibrium Analysis: Many Markets 17.3 General Equilibrium Analysis: Comparative Statics 17.4 The Efficiency of Competitive Markets 17.5 Gains from Free Trade Chapter 18 Externalities and Public Goods 18.1 Introduction 18.2 Externalities 18.3 Public Goods Mathematical Appendix Solutions to Selected Problems Glossary Index N2 - This Indian Adaptation of Microeconomics sixth edition has revised text that offers new and enhanced content throughout. The coverage of the book also incorporates the dramatic changes that have occurred in this field in the recent years. New applications and case studies reflecting current data and important new developments in the field of economics relevant to the Indian scenario have been added. A new chapter on Demand Forecasting has been included. Learning- by-Doing Exercises in the chapter, and end of chapters exercises are enriched with new Questions and Problems to help learners relate better to the content ER -