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Microeconomic Essentials by Jay Prag; is a book available to read on EtoBox.
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Contents 7 Preface 11 1 Introduction 13 1.1 Concepts versus Calculus 14 1.2 Weeds 14 1.3 Microeconomics, Macroeconomics, and Pragmatic Economics 15 1.4 Microeconomics in the Media 15 1.5 An Overview of the Book 16 2 The Market Model 21 2.1 Demand 22 2.2 Supply 24 2.3 The Market 25 2.4 The Market Model and News: Necessary Curve Shifting 27 2.5 The Market Model and Time 29 2.6 Measuring Flat and Steep: Elasticity 33 3 Applications of (and Interference with) the Market 39 3.1 Regulated Prices 40 3.2 Price Ceilings 40 3.3 Rent Control 43 3.4 Price Floors 45 3.5 Minimum Wages 47 3.6 Subsidies and Quotas 50 3.7 Tax Incidence 54 Chapter Summary 58 Appendix 3.1 Tax Incidence Redux 60 4 Behind the Demand Line: Consumer Theory 63 4.1 Utility, Utility Maximization, and How We Shop 64 4.2 A Few Problems with Utility Maximization 66 4.3 Cardinal versus Ordinal Utility 69 4.4 Behind the Demand Line: How Utility Maximization Explains the Demand Line 70 4.5 Substitutes and Complements 70 Chapter Summary 73 Appendix 4.1 Utility Maximization Graph 75 Appendix 4.2 Utility Maximization Calculus 79 Appendix 4.3 Deriving the Demand Line and Inferior Goods 81 5 Behind the Supply Line: Theory of the Firm
- Author
- Jay Prag;
- Language
- EN
More by Jay Prag;
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