For upper-level undergraduate and first-year MBA courses in managerial and applied economics. This text will excite readers by providing a more linear progression, while proving the consistency and relevance of microeconomic theory.
Chapter 1. Introduction Chapter 2. The firm and its goals Chapter 3A. Supply and demand Appendix 3. The mathematics of supply and demand Chapter 4. Demand elasticity Appendix 4. Applications of supply and demand Chapter 5. Demand estimation and forecasting Chapter 6. The theory and estimation of production Appendix 6A. The production of services Appendix 6B. The multiple-input case Appendix 6C. Expressing the production function with the use of calculus Chapter 7. The theory and estimation of cost Appendix 7A. A mathematical restatement of the short-run cost function Appendix 7B. The estimation of cost Chapter 8. Pricing and output decisions: perfect competition and monopoly Appendix 8A. The use of calculus in pricing and output decisions Appendix 8B. Break-even analysis (volume-cost-profit) Chapter 9. Pricing and output decision: monopolistic competition and oligopoly Chapter 10. Special pricing practices Chapter 11. Game theory and asymmetric information Chapter 12. Capital budgeting and risk Appendix 12A. The value of a corporation Chapter 13. The multinational corporation and globalization Chapter 14. Government and industry: challenges and opportunities for todays manager Chapter 15. Managerial economics in action Part 1. Beverage industry survey Part 2. The business planning process Appendix 15A. Beverage industry executives Appendix A. Statistical and financial tables Index Online appendices Review of mathematical concepts used in managerial economics Linear programming Calculations for the time value of money Solutions to odd-numbered problems