The exciting new eighth edition of PRICE THEORY AND APPLICATIONS delivers a text that will both challenge and intrigue students as it equips them with the tools and skills to apply economic principles to the world around them. Inductive, hands on, and highly interactive, the book is intellectually r... more
Extensive sections are devoted to topics excluded from many standard intermediate textbooks, such as alternative normative criteria, efficient asset markets, contestable markets, antitrust law, mechanisms for eliciting private information regarding demand for public goods, human capital, increasing ... more
The new edition contains a greatly expanded version of indifference curves and budget lines, compares head taxes, income taxes, payroll taxes, and consumption taxes.
An expanded and substantially rewritten treatment of income and substitution effects, giving even more emphasis than before to the mu... more