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Principles of Microeconomics
Reference material by Wikibooks contributors. This retains its source identity and is not 411 news reporting.
Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms.Wikipedia: Microeconomics
This book is a derivative of OpenStax Principles of Microeconomics. You can download the original free of charge at https://openstax.org/details/books/principles-microeconomics.OpenStax: Principles of Microeconomics
Table of Contents
/Preface/
/Welcome to Economics!/
/What Economics Is and Why It's Important/
/Microeconomics and Macroeconomics/
/How Economists Use Theories and Models to Understand Economic Issues/
/How Economies Can Be Organized: An Overview of Economic Systems/
/Choice in a World of Scarcity/
/How Individuals Make Choices Based on Their Budget Constraint/
/The Production Possibilities Frontier and Social Choices/
/Confronting Objections to the Economic Approach/
/Demand and Supply/
/Demand, Supply, and Equilibrium in Markets for Goods and Services/
/Shifts in Demand and Supply for Goods and Services/
/Changes in Equilibrium Price and Quantity: The Four-Step Process/
/Price Ceilings and Price Floors/
/Demand, Supply, and Efficiency/
/Labor and Financial Markets/
/Demand and Supply at Work in Labor Markets/
/Demand and Supply in Financial Markets/
/The Market System as an Efficient Mechanism for Information/
/Elasticity/
/Price Elasticity of Demand and Price Elasticity of Supply/
/Polar Cases of Elasticity and Constant Elasticity/
/Elasticity and Pricing/
/Elasticity in Areas Other Than Price/
/Consumer Choices/
/Consumption Choices/
/How Changes in Income and Prices Affect Consumption Choices/
/Labor-Leisure Choices/
/Intertemporal Choices in Financial Capital Markets/
/Cost and Industry Structure/
/Explicit and Implicit Costs, and Accounting and Economic Profit/
/The Structure of Costs in the Short Run/
/The Structure of Costs in the Long Run/
/Perfect Competition/
/Perfect Competition and Why It Matters/
/How Perfectly Competitive Firms Make Output Decisions/
/Entry and Exit Decisions in the Long Run/
/Efficiency in Perfectly Competitive Markets/
/Monopoly/
/How Monopolies Form: Barriers to Entry/
/How a Profit-Maximizing Monopoly Chooses Output and Price/
/Monopolistic Competition and Oligopoly/
/Monopolistic Competition/
/Oligopoly/
/Monopoly and Antitrust Policy/
/Corporate Mergers/
/Regulating Anticompetitive Behavior/
/Regulating Natural Monopolies/
/The Great Deregulation Experiment/
/Environmental Protection and Negative Externalities/
/The Economics of Pollution/
/Command-and-Control Regulation/
/Market-Oriented Environmental Tools/
/The Benefits and Costs of U.S Environmental Laws/
/International Environmental Issues/
/The Tradeoff between Economic Output and Environmental Protection/
/Positive Externalities and Public Goods/
/Why the Private Sector Under Invests in Innovation/
/How Governments Can Encourage Innovation/
/Public Goods/
/Poverty and Economic Inequality/
/Drawing the Poverty Line/
/The Poverty Trap/
/The Safety Net/
/Income Inequality: Measurement and Causes/
/Government Policies to Reduce Income Inequality/
/Issues in Labor Markets: Unions, Discrimination, Immigration/
/Unions/
/Employment Discrimination/
/Immigration/
/Information, Risk, and Insurance/
/The Problem of Imperfect Information and Asymmetric Information/
/Insurance and Imperfect Information/
/Financial Markets/
/How Businesses Raise Financial Capital/
/How Households Supply Financial Capital/
/How to Accumulate Personal Wealth/
/Public Economy/
/Voter Participation and Costs of Elections/
/Special Interest Politics/
/Flaws in the Democratic System of Government/
/International Trade/
/Absolute and Comparative Advantage/
/What Happens When a Country Has an Absolute Advantage in All Goods/
/Intra-industry Trade between Similar Economies/
/The Benefits of Reducing Barriers to International Trade/
/Globalization and Protectionism/
/Protectionism: An Indirect Subsidy from Consumers to Producers/
/International Trade and Its Effects on Jobs, Wages, and Working Conditions/
/Arguments in Support of Restricting Imports/
/How Trade Policy Is Enacted: Globally, Regionally, and Nationally/
/The Tradeoffs of Trade Policy/
Appendices
/The Use of Mathematics in Principles of Economics/
/Indifference Curves/
/Present Discounted Value/
References
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