Microeconomics: Principles and Applications
Acclaimed economists Hall and Lieberman have made the latest edition of MICROECONOMICS: PRINCIPLES AND APPLICATIONS as current as the headlines. Since real-world policy issues, decisions, and applications impact all of us on an everyday basis, Hall and Lieberman use these true, cutting-edge examples to illustrate core economic theory and application. Straightforward and easy-to-understand, this comprehensive text equips readers with a solid foundation in economics that they can build upon wherever their career paths may lead. Hall and Lieberman’s careful focus on important economic theories and applications, and how they relate to practical questions, effectively conveys the message that economics is an integrated, powerful body of knowledge that can address complex domestic and global issues. A wealth of interactive online exercises, graphing applications, and research resources give students hands-on experience in understanding current economic issues.
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advertising asset ATC curve average bond bottles budget line bushels capital causes chapter charge choice choose comparative advantage competitive market concerts consumer surplus countries curve shifts deadweight loss decrease demand curve dollar earn economists efficient elasticity of demand equilibrium price example Figure firm’s gasoline graph income increase indifference curve industry inputs interest rate isocost labor market leftward less level of output long run lower LRATC curve maple syrup marginal cost marginal revenue marginal utility market price Max’s MC curve million monopolistic monopolistic competition monopoly move oligopoly opportunity cost panel payment percent perfect competition present value price change price discrimination quantity demanded quantity supplied rise sell shifts rightward short run shows slope soybeans supply and demand supply curve Suppose T-shirts Table total benefits total cost total revenue trade truck variable wage rate workers