For upper-level undergraduate and first-year MBA courses in managerial and applied economics. This Global Edition has been edited to include enhancements making it more relevant to students outside the United States This text will excite readers by providing a more linear progression, while proving the consistency and relevance of microeconomic theory. The Seventh Edition welcomes a new co-author, Stephen Erfle of Dickinson College, who has contributed many revisions and improvements to the quantitative sections of the text, as well as provided a major addition: the use of Excel in the presentation of many of the numerical and graphical illustrations presented throughout the text. To strengthen students ability to use Excel-a critical skill in todays job market-new Excel Applications (Excel Apps) allow readers to turn the static figures and tables in the text into dynamic illustrations.
1. Introduction 2. The firm and Its Goals 3. Supply and Demand4. Demand Elasticity 5. Demand Estimation and Forecasting 6. The Theory and Estimation of Production7. The Theory and Estimation of Cost 8. Pricing and Output Decisions: Perfect Competition and Monopoly 9. Pricing and Output Decision: Monopolistic Competition and Oligopoly 10. Special Pricing Practices 11. Game Theory and Asymmetric Information 12. Capital Budgeting and Risk13. The Multinational Corporation and Globalization14. Government and Industry: Challenges and Opportunities for Todays Manager15. Managerial Economics in Action