Microeconomics Made Simple Basic Microeconomic Principles Explained in 100 Pages Or Less
Microeconomics Made Simple Basic Microeconomic Principles Explained in 100 Pages Or Less by Austin Frakt is published by Simple Subjects, LLC in 2014 and spans 134 pages. This book provides a clear and concise overview of fundamental microeconomic principles, making complex concepts accessible through straightforward language. It covers essential topics such as utility maximization, demand and supply determinants, market equilibrium, and various market structures, offering readers a foundational understanding of microeconomics.
Readers will find a structured exploration of key economic theories and their practical implications. The book addresses concepts like opportunity costs, elasticity, and government intervention, while also discussing production costs and market dynamics. By breaking down intricate ideas into digestible sections, this edition serves as a practical guide for anyone looking to grasp the basics of microeconomics, regardless of their prior knowledge.
Official synopsis Publisher
Find all of the following topics, explained in plain-English: Introduction: What is Economics? Not a Perfect Model Microeconomics vs. Macroeconomics 1. Maximizing Utility Decreasing Marginal Utility Opportunity Costs 2. Evaluating Production Possibilities Production Possibilities Frontiers Absolute and Comparative Advantage 3. Demand Determinants of Demand Elasticity of Demand Change in Demand vs. Change in Quantity Demanded 4. Supply Determinants of Supply Elasticity of Supply Change in Supply vs. Change in Quantity Supplied 5. Market Equilibrium How Market Equilibrium is Reached The Effect of Changes in Supply and Demand 6. Government Intervention Price Ceilings and Price Floors Taxes and Subsidies 7. Costs of Production Marginal Cost of Production Fixed vs. Variable Costs Short Run vs. Long Run Sunk Costs Economic Costs vs. Accounting Costs 8. Perfect Competition Firms Are Price Takers Making Decisions at the Margin Consumer and Producer Surplus 9. Monopoly Market Power Deadweight Loss with a Monopoly Monopolies and Government 10. Oligopoly Collusion Cheating the Cartel Government Intervention in Oligopolies 11. Monopolistic Competition Competing via Product Differentiation Loss of Surplus with Monopolistic Competition Conclusion: The Insights and Limitations of Economics
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