Microeconomics,, 16th Canadian Edition

d. 4. Is Productive Capacity Growing? 4. Microeconomics and Macroeconomics 5. Economics and Government Policy D. 1.2 The Complex ...

1.1 What Is Economics? LO 1 1.2 The Complexity of Modern Economies LO 2, 3, 4 1.3 Is There an Alternative to the Market Economy ...

b. More Complex Index Numbers 2. Graphing Economic Data a. Cross-Sectional and Time-Series Data b. Scatter Diagrams F. 2.4 Graph ...

Demand Schedules and Demand Curves a. Shifts in the Demand Curve a. 1. Consumers’ Income b. 2. Prices of Other Goods c. 3. Cons ...

3.1 Demand LO 1, 2 3.2 Supply LO 3, 4 3.3 The Determination of Price LO 5 H. Key Concepts I. Study Exercises Fill-in-the-Blank ...

a. Normal Goods a. Income Inelastic b. Income Elastic c. Luxuries Versus Necessities b. Inferior Goods 2. Cross Elasticity of De ...

Who Gains and Who Loses? Policy Alternatives E. 5.3 An Introduction to Market Efficiency Demand as “Value” and Supply as “Cost” ...

The Consumer’s Demand Curve Market Demand Curves D. 6.2 Income and Substitution Effects of Price Changes The Substitution Effec ...

6A.3 The Consumer’s Utility-Maximizing Choices a. The Consumer’s Response to a Change in Income b. The Consumer’s Response to a ...

E. 7.3 Production in the Short Run Total, Average, and Marginal Products Diminishing Marginal Product The Average–Marginal Rela ...

C. 8.1 The Long Run: No Fixed Factors Profit Maximization and Cost Minimization a. Long-Run Cost Minimization b. The Principle ...

8A.2 Cost Minimization a. The Principle of Substitution 9 Competitive Markets A. Chapter Outline B. Learning Objectives (LO) C. ...

Declining Industries a. The Response of Firms b. The Response of Governments H. Summary 9.1 Market Structure and Firm Behaviour ...

b. Created Entry Barriers 5. The Very Long Run and Creative Destruction D. 10.2 Cartels and Monopoly Power The Effects of Carte ...

Review Problems 11 Imperfect Competition and Strategic Behaviour A. Chapter Outline B. Learning Objectives (LO) C. 11.1 Imperfe ...

Profit Maximization Is Complicated The Basic Dilemma of Oligopoly Some Simple Game Theory a. A Payoff Matrix b. Strategic Behav ...

I. Study Exercises Fill-in-the-Blank Review Problems 12 Economic Efficiency and Public Policy A. Chapter Outline B. Learning Ob ...

b. Long-Run Investment c. Very Long-Run Innovation d. Problems with Regulations 2. Regulation of Oligopolies a. Skepticism About ...

The Firm’s Demand Curve for a Factor a. The MRP Curve Is the Factor Demand Curve b. Elasticity of the Firm’s Factor Demand Curv ...

a. Intrinsic Differences b. Acquired Differences c. Compensating Differentials c. Can Differentials Be Eliminated? 2. Economic R ...