Microeconomics is concerned with the production, consumption and
distribution of goods by the micro units of individuals, firms and
markets within the economy. It can also be considered a study of
scarcity and the choices to be made for the attainment of goals
within constraints. These goals are those set by consumers,
producers and policy makers in the market.
This book provides a brand new approach to the teaching and
study of microeconomics an elementary guide to the fundamental
principles of the subject. It gives students from all parts of the
world the opportunity to understand and appreciate the value of
microeconomic tools and concepts for analyzing market processes in
their economic environment, as well as maintaining a perspective on
issues of trade and competitiveness, thus drawing attention to the
relevance of microeconomic theory beyond the domestic scene to
issues of trade and competitiveness on the international arena.
The book contains a wealth of international case studies and
covers topics such as:
- elasticity
- Cobb-Douglas Production functions
- dynamic stability of market equilibrium
- monopolies and monopolistic competition
- project analysis
The perfect introduction to the building blocks of contemporary
microeconomic theory, this book will be of interest to
undergraduate students in international economics, industrial
economics, managerial economics and agricultural economics. It will
also be a useful reference guide for graduates requiring a break
down of difficult microeconomic principles.
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