A Primer on Microeconomics, Second Edition, Volume II

Download or read book A Primer on Microeconomics, Second Edition, Volume II written by Thomas M. Beveridge and published by Business Expert Press. This book was released on 2018-09-26 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: This two-volume text represents a common sense approach to basic microeconomics. Economics, far from being the dismal science, offers us valuable lessons that can be applied to our everyday experiences. At its heart, economics is the scientific study of choice and a study of economic principles allows us to achieve a more informed understanding of how we make our choices; whether these choices occur in our everyday life or in our work environment. Volume Two, Competition and Constraints, focuses on understanding how markets may operate; profit maximization; how real-world concerns may reduce efficiency; what corrective actions may be taken to prevent market failure and the implications of those actions. The goal is to provide a concise readable primer that extends the fundamentals of microeconomic theory to consider practical economic issues.