Answers to Odd-Numbered Exercises and Selected Problems
Index
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Chapter 1: The Budget Line
- Scarcity and the Budget Line
- Income in the Budget Line
- Prices in the Budget Line: The Law of Demand
Chapter 2: The Consumer's Choice
- The Pursuit of Happiness
- The Shape of Indiffernce Curves
- The Uses of Indifferecnces Curves
- Measurable Utility
Chapter 3: The Measurement of Utility and the Economics of Risk
- Paradise Lost: Nonmeasurable Utility
- Paradise Regained: Measurable Utility
- Imperfections in Paradise?
- Living in Paradise: The Uses of Measureable Utility
Chapter 4: Indifference Curves and Demand
Chapter 5: Trade
- Supply and Demand
- Exchange Between Two People or Nations
- Trade Among Many People: Behavior
- Trade Among Many People: Happiness
Chapter 6: Using Market Supply and Demand
- The Uses of Equilibrium
- Adding Up Supply and Demand: Equilibrium
- Adding Up Supply and Demand: The Diagrams for Analyses
- Extensions of Supply and Demand
Chapter 7: Measuring Supply and Demand
- Elasticities of Supply and Demand: The Essential Ideas
- Constant Elasticities
Chapter 8: Production Possibilities
- Production and Specialization
- The Production Function Also Leads to the Production Possibility Curve
- How an Economy Works in the Large
Chapter 9: The Economics of Welfare and Politics
- The Economics of Ethics
- National Income and Its Ambiguities
- The Economics of Politics
Chapter 10: Consumers' Surplus
- Consumers' Surplus: The Elements
- Further Uses of Consumers' Surplus: Middlemen and Other Exchanges
- A Change in Consumers' and Producers' Surplus Is the Same as a Change in National Income
Chapter 11: The Firm
- Whether and Why Firms Exist
- The Profit Motive
- Marginal Cost: Why the Firm Produces What It Produces
- Equimarginality: How the Firm Produces What It Produces at Minimum Cost
Chapter 12: Cost Curves of the Firm
- Production and Input Supply: Why Marginal Cost Is As It Is
- Cost Curves in Use: The Long Run and the Short Run
- Cost Curves in Use: Fixed and Variable Costs
Chapter 13: Competitive Industry
- Industry Supply with a Fixed Number of Firms and Costs Independent: Optimality and Upward Slope
- Industry Supply with a Fixed Number of Firms but Costs Interdependent: Externalities
Chapter 14: The Long-Run Supply Curve and the Principle of Entry
- The Long-Run Supply Curve
- The Uses of Entry and Exit
Chapter 15: Taxes
Chapter 16: Competition for Property Rights
- Competition for Supernormal Profits
- Unassigned Property Rights and External Effects
Chapter 17: The Behavior of Monopoly
- Monopoly: The Elements
- Advanced Applicaitons of Simple Monopoly
Chapter 18: Measuring Monopoly
Chapter 19: The Welfare Economics of Monopoly
Chapter 20: Monopolistic Competition and the Economics of Location
- Monopolistic Competition as Competition Among Local Monopolies
- The Theory of Location
Chapter 21: Competition Among the Few
- Simple Solutions: Bertrand and Cournot
- The Irrationality of Simple Solutions to the Problem of Fewness
- Cartels and Game Theory as Solutions to the Oligopoly Pattern
Chapter 22: Marginal Productivity and the Demand for Labor: The Fundamentals
- Labor and Commodity
- Marginal Productivity as the Demand for Labor by the Firm
Chapter 23 : Marginal Productivity in Theory and in Use
- Many Inputs, Constant Returns to Scale, and the Fundamental Theorem
- Changes in the Production Function
Chapter 24: Misallocation and Monopoly in Factor Markets
- Good and Bad Allocation
- Monopoly in Factor Markets
Chapter 25: The Supply of Labor
- The Leading Idea in Labor Supply: Compensating Differentials
- The Choice Between Work and Leisure
- The Choice of Schemes of Payment
Chapter 26: Capital's Supply and Demand
- The Interest Rate
- Supply and Demand Curves
Answers to Odd-Numbered Exercises and Selected Problems
Index
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