Solution Manual for Modern Principles: Microeconomics, 4th Edition, Tyler Cowen, Alex Tabarrok

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Product details:

• ISBN-10 ‏ : ‎ 1319098762
• ISBN-13 ‏ : ‎ 978-1319098766
• Author: Tyler Cowen; Alex Tabarrok

The title, Modern Principles, refers to a progressive approach to economic modeling and applications that allows for more realistic interpretation of today’s world events.

Mirroring the authors’ successful blog, the text eschews boxed features to focus on the writing behind compelling examples, key concepts, and applications.

An emphasis on incentives underscores how economics is about human behavior and how economics helps us understand why we do what we do (in other words, the decisions we make in the face of incentives in the real world). Covers of the franchise titles feature multiple hands to emphasize the power of the Invisible Hand, a key economic concept that refers to the power of incentives (and was coined by Adam Smith).

Table of Contents

1. The Big Ideas
2. The Power of Trade and Comparative Advantage
Part 1: Supply and Demand
3. Supply and Demand
4. Equilibrium: How Supply and Demand Determine Prices
5. Elasticity and Its Applications
Appendix: Other Types of Elasticities
6. Taxes and Subsidies
Part 2: The Price System
7. The Price System: Signals, Speculation, and Prediction
8. Price Ceilings and Floors
9. International Trade
10. Externalities: When the Price Is Not Right
Part 3: Firms and Factor Markets
11. Costs and Profit Maximization Under Competition
Appendix: Using Excel to Graph Cost Curves
12. Competition and the Invisible Hand
13. Monopoly
14. Price Discrimination and Pricing Strategy
Appendix: Solving PRice Discrimination Problems with Excel (Advanced Section)
15. Oligopoly and Game Theory
Appendix: Nash Equilibrium
16. Competing for Monopoly: The Economics of Network Goods
17. Monopolistic Competition and Advertising
18. Labor Markets
Part 4: Government
19. Public Goods and the Tragedy of the Commons
Appendix: The Tragedy of the Commons: How Fast?
20. Political Economy and Public Choice
21. Economics, Ethics, and Public Policy
Part 5: Decision Making for Businesses, Investors, and Consumers
22. Managing Incentives
23. Stock Markets and Personal Finance
24. Asymmetric Information: Moral Hazard and Adverse Selection
25. Consumer Choice
Appendix A: Reading Graphs and Making Graphs
Appendix B: Solutions to Check Yourself Questions.
Glossary
References
Index

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