Price system and resource allocation. [Textbook]
The objectives sought in this seventh edition are the same as in previous editions. The book is intended basically for third-year undergraduates who have had no more than a principle course. The author feels that there are sufficient applications to demonstrate the usefulness of microeconomic theory to students; also, the theory core of the book provides an adequate foundation for advanced study of economics. As well as trying to improve the organization and exposition, the author has added a few items in this edition. Corner solutions are discussed in the chapter on consumer choice. Lorenz curves and the negative income tax are introduced in the chapter on income distribution. Greater emphasis is given to the modern theory of consumer choice. Closer ties are made between the theory of production and the theory of costs.
- OSTI ID:
- 6779225
- Country of Publication:
- United States
- Language:
- English
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