All Formats & Editions

Price theory, often misleadingly labeled "microeconomics," is the explanation of how individual actors coordinate via markets, prices, and exchange to produce, distribute, and consume goods and services. Worked out more than a century ago, it remains the core of modern economic... Read Full Overview

The author designed this book to develop the reader's understanding of the economic way of thinking by first providing verbal, intuitive explanations of concepts, then illustrating them with graphs and/or calculus. Optional chapters apply economic analysis to unconventional topics,... Read Full Overview