Microeconomic Problems [antikvár]

Preface As in its previous edition, Microeconomic Problems: Case Studies and Exercises for Review, sixth edition, continues to provide a comprehensive set of questions which covers the entire range of topics taught in intermediate-level microeconomics courses. The inclusion of empirical material as well as problems and cases based on real-world situations demonstrates to students the power of microeconomic theory as an aid to decision-makers in both the private and public sectors of the economy. The result is a combination of theory on the one hand with measurement and application on the other. Based on student response to the previous editions of the study guide, this seems to be an approach that provides an effective tool for learning microeconomic theory. In all, about 1,100 questions are included in the present edition of this book. While the basic structure of the sixth edition oi Microeconomic Problems remains the same, there have been notable changes: • About 25 problem sets are new. • A major new case study has been added, "What Went Wrong at General Motors." • Many questions have been updated or altered in form. The organization of Microeconomic Problems, sixth edition, is designed to provide students with a combination of materials which allows them both to review their grasp of basic concepts and to test their ability to apply those concepts. Each chapter contains four parts. The first is a case study. This is followed by a second part which contains some twenty to thirty problems and short essay questions. These questions vary in difficulty, but only a few (labeled as advanced) require mathematics beyond basic algebra. A third part amounts to a self-test; it covers the main points of the chapter in about thirty completion, true-false, and multiple-choice questions. The fourth part offers a list of key concepts for review. In addition, brief answers are provided at the end of each chapter for practically all of the questions. Some of these answers are of necessity truncated and incomplete. However, they will provide sufficient feedback to students to enable them to gauge their own progress. I am indebted to many instructors for their comments and suggestions. In particular, my thanks go to Harry F. Brazer of the University of Michigan, Donald C. Cell of Cornell College, Daniel Fletcher of Denison University, Douglas Needham of James Madison University, and Wesley Yordan of the University of Colorado. Also, I want to thank Anne Williams, whose questions were the basis for several problems included here. Philadelphia, 1987 E.M.