Microeconomics 21st Edition by McConnell (Author), Stanley Brue (Author), Sean Flynn (Author)

Publisher: ECONOMICS

Availability: In Stock
SKU: 26849
Number of Pages: 672

Rs.1,320.00

Rs.1,695.00

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Description

Microeconomics 21st Edition by McConnell, Brue, and Flynn offers a comprehensive exploration of microeconomic theory and its real-world applications. This extensively revised edition delves into fundamental concepts such as supply and demand, market structures, and resource allocation while incorporating contemporary examples and data to illustrate key economic principles.

Key Points:

1. Principles of Microeconomics: Exploring the foundational concepts that underpin microeconomic analysis, from scarcity to opportunity cost.

2. Market Equilibrium: Understanding the interplay of supply and demand to determine market equilibrium and prices.

3. Consumer Behavior: Investigating how individuals make choices based on preferences, budget constraints, and utility maximization.

4. Producer Theory: Examining the behavior of firms in relation to production decisions, costs, and profit maximization strategies.

5. Market Structures: Analyzing different market structures such as perfect competition, monopoly, oligopoly, and monopolistic competition and their implications for economic efficiency.

6. Microeconomic Policy: Evaluating the role of government intervention in markets to address market failures, promote competition, and achieve economic objectives.

7. Elasticity of Demand: Understanding the responsiveness of quantity demanded to changes in price and income and its significance for market behavior.

8. Income Distribution: Exploring factors influencing the distribution of income among individuals and households, including wage differentials and government policies.

9. International Trade: Investigating the gains from trade, comparative advantage, and the effects of tariffs and quotas on welfare and resource allocation.

10. Economic Welfare: Assessing measures of economic welfare such as consumer surplus, producer surplus, and social welfare, and their implications for policy analysis and decision-making.

In Microeconomics 21st Edition, McConnell, Brue, and Flynn provide a rigorous yet accessible framework for understanding the complexities of microeconomic theory and its practical applications in today's dynamic economic landscape.

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Writer ✤ McConnell (Author), Stanley Brue (Author),
Sean Flynn (Author)

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