Intermediate Microeconomics and Its App...12th EditionWalter Nicholson; Christopher M. Snyder Publisher: South-Western College PubISBN: 9781133189022
Intermediate Microeconomics and Its App...
Solutions for Intermediate Microeconomics and Its Application, 12th edition with CD-ROM (Exclude Access Card)
Browse All Chapters of This Textbook
Chapter 1 - Economic ModelsChapter 1.2 - A Few Basic PrinciplesChapter 1.3 - Uses Of MicroeconomicsChapter 1.4 - The Basic Supply-demand ModelChapter 1.5 - How Economists Verify Theoretical ModelsChapter 1A.2 - Graphing Functions Of One VariableChapter 1A.3 - Functions Of Two Or More VariablesChapter 1A.4 - Simultaneous EquationsChapter 1A.5 - Empirical Microeconomics And EconometricsChapter 2 - Utility And Choice
Chapter 2.1 - UtilityChapter 2.3 - Voluntary Trades And Indifference CurvesChapter 2.5 - Illustrating Particular PreferencesChapter 2.7 - Showing Utility Maximization On A GraphChapter 2.8 - Using The Model Of ChoiceChapter 3 - Demand CurvesChapter 3.2 - Changes In IncomeChapter 3.3 - Changes In A Good’s PriceChapter 3.4 - An Application: The Lump-sum PrincipleChapter 3.5 - Changes In The Price Of Another GoodChapter 3.7 - Shifts In An Individual’s Demand CurveChapter 3.9 - Consumer SurplusChapter 3.10 - Market Demand CurvesChapter 3.11 - ElasticityChapter 3.12 - Price Elasticity Of DemandChapter 3.14 - Income Elasticity Of DemandChapter 3.15 - Cross-price Elasticity Of DemandChapter 4 - UncertaintyChapter 4.1 - Probability And Expected ValueChapter 4.2 - Risk AversionChapter 4.3 - Methods For Reducing Risk And UncertaintyChapter 4.4 - Pricing Of Risk In Financial AssetsChapter 4A.3 - InsuranceChapter 5 - Game TheoryChapter 5.3 - EquilibriumChapter 5.4 - Illustrating Basic ConceptsChapter 5.5 - Multiple EquilibriaChapter 5.6 - Sequential GamesChapter 5.9 - Incomplete InformationChapter 6 - ProductionChapter 6.2 - Marginal ProductChapter 6.3 - Isoquant MapsChapter 6.4 - Returns To ScaleChapter 6.5 - Input SubstitutionChapter 6.6 - Changes In TechnologyChapter 6.7 - A Numerical Example Of ProductionChapter 7 - CostsChapter 7.1 - Basic Cost ConceptsChapter 7.2 - Cost-minimizing Input ChoiceChapter 7.3 - Cost CurvesChapter 7.5 - Per-unit Short-run Cost CurvesChapter 7.6 - Shifts In Cost CurvesChapter 8 - Profit Maximization And SupplyChapter 8.3 - Marginal RevenueChapter 8.4 - Marginal Revenue CurveChapter 8.5 - Supply Decisions Of A Price-taking FirmChapter 9 - Perfect Competition In A Single MarketChapter 9.2 - 9-2 Pricing In The Very Short RunChapter 9.4 - Short-run Price DeterminationChapter 9.5 - Shifts In Supply And Demand CurvesChapter 9.8 - Shape Of The Long-run Supply CurveChapter 9.9 - Consumer And Producer SurplusChapter 9.10 - Some Supply-demand ApplicationsChapter 10 - General Equilibrium And WelfareChapter 10.2 - Why Is General Equilibrium Necessary ?Chapter 10.4 - The Economic Efficiency Of Perfect CompetitionChapter 10.5 - Why Markets Fail To Achieve Economic EfficiencyChapter 10.7 - The Edgeworth Box Diagram For ExchangeChapter 10.8 - Money In General Equilibrium ModelsChapter 11 - MonopolyChapter 11.2 - Profit MaximizationChapter 11.3 - What’s Wrong With Monopoly?Chapter 11.4 - Price DiscriminationChapter 11.5 - Natural MonopoliesChapter 12 - Imperfect CompetitionChapter 12.2 - Cournot ModelChapter 12.3 - Product DifferentiationChapter 12.4 - Tacit CollusionChapter 12.5 - Entry And ExitChapter 12.6 - Other Models Of Imperfect CompetitionChapter 13 - Pricing In Input MarketsChapter 13.1 - Marginal Productivity Theory Of Input DemandChapter 13.2 - Responses To Changes In Input PricesChapter 13.3 - Responsiveness Of Input Demand To Input Price ChangesChapter 13.5 - Equilibrium Input Price DeterminationChapter 13.6 - MonopsonyChapter 13A.1 - Allocation Of TimeChapter 13A.2 - Income And Substitution Effects Of A Change In The Real Wage RateChapter 14 - Capital And TimeChapter 14.3 - Firms’ Demand For Capital And LoansChapter 14.4 - Determination Of The Real Interest RateChapter 14.5 - Present Discounted ValueChapter 14.6 - Pricing Of Exhaustible ResourcesChapter 14A.2 - Compound InterestChapter 14A.4 - Discounting Payment StreamsChapter 14A.5 - Frequency Of CompoundingChapter 14A.6 - The Present Discounted Value Approach To Investment DecisionsChapter 15 - Asymmetric InformationChapter 15.2 - Worker Moral HazardChapter 15.3 - Private Information About Consumer TypeChapter 15.4 - Asymmetric Information In Competitive MarketsChapter 15.5 - SignalingChapter 16 - Externalities And Public GoodsChapter 16.2 - Externalities And Allocational EfficiencyChapter 16.3 - Property Rights, Bargaining, And The Coase TheoremChapter 16.4 - Externalities With High Transactions CostsChapter 16.7 - Solutions To The Public Goods ProblemChapter 16.8 - Revealing The Demand For Public GoodsChapter 17 - Behavioral EconomicsChapter 17.3 - Limited Cognitive PowerChapter 17.4 - Limited WillpowerChapter 17.5 - Limited Self-interestChapter 17.6 - Policy Implications
Book Details
INTERMEDIATE MICROECONOMICS AND ITS APPLICATION offers an exceptionally clear and concise introduction to the economics of markets. This proven text uses a managerial focus and includes relevant applications and strong examples as well as step-by-step video problems, an algebraic approach, and activities that allow you to learn by doing. Your purchase also includes online resources on CourseMate, including a complete eBook, step-by-step video problems, solutions to odd=numbered questions, and interactive quizzes.
Sample Solutions for this Textbook
We offer sample solutions for Intermediate Microeconomics and Its Application, 12th edition with CD-ROM (Exclude Access Card) homework problems. See examples below:
Generally, small quantities or inadequate quantities are called scarcity of the goods and when the...The figure (1) below represents the graphical representation of given demand and supply curves....PriceQuantity SuppliedQuantity Demanded11007002300600350050047004005900300 By observing the above...The following figure shows the effects on supply and demand: In the case of the oil market, when...Budget Constraint: It shows all the possible combination of two goods that a consumer can purchase,...The utility function used is under the Cobb Douglas form: U=A.BU=A12.B12 From the above function, it...Real Income represents that part of income of an individual, resulting after adjusted with the...First, let us assume that the income of the individual is represented by, I = $200. While the jeans...Whenan individual tosses fair coin, the chances of getting a heador getting a tail equals to “1/2”....
The individual has $100,000 to invest in stocks. There is a 50 percent chance that the stocks will...In game theory, any player with the goal of earning high profits will maximize the payoffs. On the...In the study of game theory, the payoff is the numeric value that is involved with a possible...The production fuction for a wheat farm is supposed to be a two input function with labor and...The given production function is given by q=100KL Where K is the number of puffing guns used and L...While buying the plane, T A must understand the airplane once purchased would become a fixed cost....Given information: The grading is based on 10 weekly quizzes, where each quiz has a maximum of 100...Given Information: TC=Bq1/(a+b)va/(a+b)wb/(a+b) Cobb Douglas production function is: q=KaLb Total...While the profits from accounting determine the taxes and dividends, the economic profits imply that...Subject to the given constraint, it can be derived that the firm operates until where the TR=TC....As given, the production function is; q=K.L , In the short run, the K is fixed at 100, and this...The minimum inventory that should be available is the critical inventory. To operate an enterprise...The demand for the broccoli is given by, Qd=1,000−5P , and supply is as follows, Qs=4P−80 ,...Given: Total identical firms =100 Short-run total cost STC=0.5q2+10q+5 Short-run marginal cost...The rise in demand will increase a goodprice, and the decline in demand will reduce it.This can...To calculate the production possibility curves for region A, consider the following production...Consumer 1selects two slices of cheese to each slice of ham. Thus, the contract curve would be...A monopoly firm will maximize its profit at the point where its marginal revenue as well as the...In market of monopoly, when price is fixed with the marginal cost, the outcome will be equal to the...The natural gas is a natural monopoly and the demand curve is given in the question as Q=100−P . The...The following diagram shows the best-response functions of Firm-A and Firm-B. From the above...Given Figure Given demand is Q =10,000-1,000-P Marginal cost is constant at MC =6 Marginal revenue...When the firm A moving first and firm B then market demand: Q=120−P and production is costless. Firm...In the supply demand model of input pricing, the demanders are the production units which demand...Given: Demand for labor: L = -50 w + 450 Supply of labor: L = 100w At equilibrium, Supply of labor =...Given Utility=wlwhere,w is the hourly wage rateand l is the number of hours worked (a). Let u1...Individual savings are flow variables because it can be measured in per unit of time like savings...Given Information: MRS for P = C1/3C0 MRS for G = 3C1/C0 It is known that, (1+r)C0+C1=(1+r)Y0+Y1...Given the scotch value function in time period t as V=100t−6t2 The graph of this has been drawn...Given, equation 14A.33 is (1+r)(1+pe)=1+r+pe+rpe=1+i If the machine deteriorates at the rate of d...Due to negligence of manager’ effort, problem of moral hazard arises. Moreover, if the manager is...Given: C’s utility function: U=w−100 and there are even chances of earning a gross profit of $1000...The profit-maximizing strategy for A would be to sell so much of the a small cup and big cup at...Externality arises when benefits or negative impact of a person is borne or enjoyed by other person...Given: MC=20+R MB=100−R Marginal benefit (MB) from cow induced methane is given below: MB=100−R...If the project cost is $300 and it is divided equally amongst three people, A, B and C, each person.... Limits to rational decision making has been classified in three areas: (1) Limited cognitive...Given Information: Reference point = $10000 Gain = 1 util per dollar Loss = 2 util per dollar Given...Given the following demand and supply function of the potato chips QS=P2QD=100−2P The equilibrium...
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