Principles of Microeconomics, 2nd Edition

Irene Foster et al.

Is the ‘surge pricing’ used by rideshare apps a form of price gouging or simply the market system at work? Why does the Justice Department sue to block the merger of certain companies? Why are tariffs on foreign goods considered a tax on U.S. consumers? Principles of Microeconomics benefits from an active learning approach that asks students to think like economists. With engaging in-chapter assessments, interactive gradable graphing exercises, and features that connect concepts to the real world, this text showcases how and why individuals, companies, industries, and governments choose their actions.

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Table of Contents for Principles of Microeconomics, 2nd Edition

Front Matter
Chapter 1: An Introduction to Economic Analysis
Chapter 2: The Production Possibilities Frontier: An Economic Model
Chapter 3: Demand, Supply, and Markets
Chapter 4: Using Supply and Demand: Elasticity, Price Controls, and Taxes
Chapter 5: Behind Demand: The Concept of Utility
Chapter 6: Behind Supply: The Short Run
Chapter 7: Behind Supply: From Short Run to Long Run
Chapter 8: Competitive Markets
Chapter 9: Monopoly
Chapter 10: Between Perfect Competition and Monopoly
Chapter 11: Regulation of Firms with Market Power
Chapter 12: Taxes: Efficiency and Fairness
Chapter 13: When Markets Fail: The Role of Government