{"product_id":"microeconomics-k-h-erickson-9781494482190","title":"Microeconomics: A Simple Introduction","description":"\u003cp\u003eMicroeconomics: A Simple Introduction offers an accessible guide to the central principles and ideas of microeconomics, with over 50 diagrams included to illustrate the analysis.\u003c\/p\u003e\u003cbr\u003e\u003cp\u003eUnderstand opportunity cost, diminishing returns, demand and supply, the market equilibrium, market failure, adverse selection and moral hazard. Learn how to calculate price and income elasticities.\u003c\/p\u003e\u003cbr\u003e\u003cp\u003eConsumer theory explores budget constraints, indifference curves, marginal rate of substitution, utility maximization, Hicks and Slutsky income and substitution effects, and Samuelson's revealed preference theory.\u003c\/p\u003e\u003cbr\u003e\u003cp\u003eFirm theory examines production factors, Cobb-Douglas and other production functions, returns to scale, isoquant curves, isocost lines, cost minimization, profit maximization, Lerner index, and differentiation to derive a marginal revenue curve.\u003c\/p\u003e\u003cbr\u003e\u003cp\u003ePerfect competition, monopolistic competition, oligopoly, and monopoly are explained. Monopoly welfare effects are shown, with oligopoly models of kinked demand, cartels, dominant price leadership, Cournot and Bertrand.\u003c\/p\u003e\u003cbr\u003e\u003cp\u003eGame theory investigates duopoly and battle of the sexes games, assessing them with dominance and credible threats.\u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e K. H. Erickson\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 1494482193\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9781494482190\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Createspace Independent Publishing Platform\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 01\/16\/2014\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 112\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Paperback\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 0.27lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 8.00h x 5.25w x 0.23d","brand":"K. H. Erickson","offers":[{"title":"Paperback","offer_id":43985857446143,"sku":"9781494482190","price":12.24,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_e5d43f25-c3e8-4548-94dd-fa820f007166.jpg?v=1683279950","url":"https:\/\/www.whiterainbookhouse.com\/products\/microeconomics-k-h-erickson-9781494482190","provider":"WR Book House","version":"1.0","type":"link"}