Methods of Microeconomics: A Simple Introduction - K.H. Erickson

Methods of Microeconomics: A Simple Introduction

By K.H. Erickson

  • Release Date - Published: 2014-10-21
  • Book Genre: Economics
  • Author: K.H. Erickson
Our rating: 5/5 stars

Score: (From 0 Ratings)

Methods of Microeconomics: A Simple Introduction K.H. Erickson read online review & book description:

Methods of Microeconomics: A Simple Introduction is an accessible guide to the mathematical methods of microeconomics. Worked examples are combined with exercises and solutions for readers, as economic relationships and equilibrium values are revealed and outcomes predicted.

Consumer preferences and utility are examined with indifference curves, and differentiation to find marginal utility and the marginal rate of substitution. Consumer choice uses a Lagrange multiplier for optimization of utility functions subject to a budget constraint.

Risk attitude and expected utility look at absolute and relative risk aversion measures, and apply risk averse, neutral or risk loving attitudes to find the expected utility linked with gambling or buying insurance.

Production maximization optimizes production functions subject to cost constraints. Cost minimization optimizes cost functions subject to production constraints. Profit maximization with quadratic cost functions is performed for perfectly competitive or monopoly firms. Monopoly, monopolistically competitive, and oligopoly equilibrium values are calculated with optimization.

The effects of asymmetric information are examined by comparing actual, equilibrium, and efficient outcomes for buyers and sellers.

@2019 – Go Read a Book. All Right Reserved. goreadabook.org is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for website owners, to earn advertising fees by linking and advertising to amazon.com and any other website that may be affiliated with Amazon Service LLC Associates Program; As an Amazon Associate I earn from qualifying purchases.

Methods of Microeconomics: A Simple Introduction book review Methods of Microeconomics: A Simple Introduction ePUB; K.H. Erickson; Economics books.

Post a review about this book