Microeconomics: Theory and Applications with Calculus, Global Edition (4^th Ed.)

For courses in microeconomics.

Exploring Microeconomics: Formal Theory and Practical Problems

Significantly revised and updated with new real-world examples, exercises, and applications, this Fourth Edition of Microeconomics: Theory and Applications with Calculus remains the premiere microeconomics text to marry formal theory with robust, thoroughly analyzed real-world problems.

Intended as an intermediate microeconomics text, Perloff introduces economic theory through a combination of calculus, algebra, and graphs. The text integrates estimated, real-world problems and applications, using a step-by-step approach to demonstrate how microeconomic theory can be applied to solve practical problems and policy issues. Compared to other similar texts, the author also places greater emphasis on using contemporary theories--such as game theory and contract theory--to analyze markets.

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MyEconLab is an online homework, tutorial, and assessment product designed to personalize learning and improve results. With a wide range of interactive, engaging, and assignable activities, students are encouraged to actively learn and retain tough course concepts.

1. Introduction 
2. Supply and Demand 
3. A Consumer’s Constrained Choice 
4. Demand 
5. Consumer Welfare and Policy Analysis 
6. Firms and Production 
7. Costs 
8. Competitive Firms and Markets 
9. Properties and Applications of the Competitive Model 
10. General Equilibrium and Economic Welfare 
11. Monopoly and Monopsony 
12. Pricing and Advertising 
13. Game Theory 
14. Oligopoly and Monopolistic Competition 
15. Factor Markets 
16. Uncertainty 
17. Property Rights, Externalities, Rivalry, and Exclusion 
18. Asymmetric Information 
19. Contracts and Moral Hazards 
Answers to Selected Questions and Problems 
Definitions 
References 
Sources for Challenges and Applications 
Index
Credits 

This title is a Pearson Global Edition. The Editorial team at Pearson has worked closely with educators around the world to include content, which is especially relevant to students outside the United States.

About the Book

Revised Applications, Examples, and Challenges Ensure that the Text Remains Relevant and Up-to-Date

• REVISED! 117 end-of section applications illustrate the versatility of microeconomic theory. 84% are new or have been revised for this edition and focus on diverse topics such as the derivation of an isoquant for semiconductors using actual data, the amount by which recipients value Christmas presents relative to the cost to gift givers, why oil companies that use fracking are more likely to shut down, and whether buying flight insurance makes sense.
• REVISED! 744 end of chapter exercises, of which 27% are new or have been revised for this edition.
• NEW! and UPDATED! Real-World Examples, which use real people, real companies, and real data to illustrate basic microeconomic theory, provide students with a practical perspective that showcases the versatility of modern microeconomics. Examples include monopoly theory as it is applied to a patented pharmaceutical, Botox; oligopoly theories used to analyze the rivalry between Coke and Pepsi, and between United Airlines and American Airlines on the Chicago—Los Angeles route; Apple’s monopoly pricing of iPads; and multimarket price discrimination through the use of data on how Warner Brothers sets prices for Harry Potter and the Deathly Hallows Part 2 DVD across countries.
• REVISED! 111 Challenges and Solved Problems, of which 8% are new or have been revised for this edition.
  • Solved Problems provide students with a step-­by­-step model for working out qualitative and quantitative problems using algebra and calculus. Students get the opportunity to pract