{"product_id":"microeconomics-theory-and-applications-part-ii-pt-ii","title":"Microeconomics: Theory and Applications Part II: Pt. II","description":"\u003cp\u003eThis book presents a scientific and systematic development of the under-lying concepts of microeconomics with due emphasis on analytical and mathematical treatment, much needed for an application orientation of mind, to help students in understanding and tackling the real-world problems. The book is organized into nine chapters. The first chapter is devoted to price-output decisions of a monopoly. It provides a comprehensive account of these decisions under all their manifestations in a systematic manner with illustrative sketches and mathematical explanations. Chapters 2 to 4, devoted to imperfect markets, cover monopolistic competition, duopoly and oligopoly under different situations of product pricing and quantity determination. The analysis is systematic incorporating illustrative sketches and mathematical explanations. Chapter 4 presents the sales maximization models of Baumol. Chapter 5 is devoted to factor pricing and Chapter 6 to capital and investment decisions. The former focuses on pricing of variable and fixed factors of production while the latter on intertemporal analysis and choice under uncertainty. Chapters 7 to 9, devoted to general equilibrium and market failure, analyse topics on general equilibrium and Pareto efficiency, markets with asymmetric information and externalities and public goods. This title includes: over 145 neatly drawn figures to clarify the concepts; chapter-end summaries as key terms and concepts to facilitate quick revision; over 410 chapter-end short and long answer questions of numerical and analytical nature with hints, and answers as appropriate to probe the students assimilation of the material covered; and, numerous illustrative examples throughout the text to illustrate the application of concepts.\u003c\/p\u003e","brand":"Phi Learning","offers":[{"title":"Default Title","offer_id":45872621977798,"sku":"DADAX8120337158","price":4.16,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0695\/9389\/1014\/files\/61AMup-RpbL.jpg?v=1779520294","url":"https:\/\/ergodemedia.com\/products\/microeconomics-theory-and-applications-part-ii-pt-ii","provider":"Ergodemedia","version":"1.0","type":"link"}