List of Illustrations .......................................... ix
Preface ....................................................... xii
Acknowledgments ................................................ xv
About the Author .............................................. xvi
1 Introduction to Managerial Economics ......................... 1
Part I. Competitive Markets .................................... 19
2 Demand ...................................................... 21
3 Elasticity .................................................. 43
4 Supply ...................................................... 65
5 Market Equilibrium .......................................... 96
6 Economic Efficiency ........................................ 118
Part II. Market Power ......................................... 137
7 Costs ...................................................... 139
8 Monopoly ................................................... 167
9 Pricing .................................................... 193
10 Strategic Thinking ......................................... 218
11 Oligopoly .................................................. 249
Part III Imperfect Markets .................................... 277
12 Externalities .............................................. 279
13 Asymmetric Information ..................................... 305
14 Incentives and Organization ................................ 329
15 Regulation ................................................. 357
16 Answers to Selected Progress Check and Review Questions .... 378
Index ......................................................... 400
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