Pricing

Table of Contents 1. What Is Economics 2. Supply, Demand, and Equilibrium 3. Prices, Costs, and the Gains from Trade 4. The Behavior of Consumers.(Appendix: Cardinal Utility) 5. Consumers in the Marketplace 6. The Behavior of Firms 7. Production and Costs 8. Competition 9. Monopoly 10. Market Power, Collusion, and Oligopoly 11. The Theory of Games 12. External Costs and Benefits 13. Common Property and Public Goods 14. The Demand for Factors of Production 15. The Market for Labor 16. Allocating Goods Over Time 17. Risk and Uncertainty 18. Welfare Economics and the Gains from Trade.(Appendix: Normative Criteria.) 19. Knowledge and Information

This edition thoroughly develops the standard topics of intermediate price theory as well as such innovative topics as the economics of information, alternative normative criteria, efficient asset markets, contestable markets, antitrust law, human capital and the demand for public goods. It also uses the timely topic of social welfare as a unifying concept throughout.