The aim of this book is to give students a grasp of the basic microeconomic theory used to analyze business situations and problems. An extensive set of end-of-chapter applications is featured, which allows students to see the theory in action. The applications stem from students' own applications and concerns, from a continuous survey of the business press, and from the author's own empirical work in industrial organization. The book goes beyond standard mathematical treatments of the subject, encouraging students to use economic reasoning to understand business problems as an aid to decision making.
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