CONTENTS
Preface xix
About the Authors xxv
Chapter 1. Introduction 1
Chapter 2. The firm and Its Goals 20
Chapter 3 Supply and Demand 40
Appendix 3A. The Mathematics of Supply and Demand 67
Chapter 4. Demand Elasticity 70
Appendix 4. Applications of Supply and Demand 104
Chapter 5. Demand Estimation and Forecasting 118
Appendix 5A The Demand for white Zinfandel in Los Angeles 171
Appendix 5B. Understanding Consumer Behavior Through Testing 179
Chapter 6. The Theory and Estimation of Production 184
Appendix 6A. The Production of Services 224
Appendix 6B. The Multiple-Input Case 235
Appendix 6C. Expressing the Production Function with the Use of Calculus 246
Chapter 7. The Theory and Estimation of Cost 252
Appendix 7A. A Mathematical Restatement of the Short-Run Cost Function 295
Appendix 7B. The Estimation of Cost 299
Appendix 7C. Interview with a Supply Chain Management Executive 310
Chapter 8. Pricing and Output Decisions: Perfect Competition and Monopoly 314
Appendix 8A. The Use of Calculus in Pricing and Output Decisions 346
Appendix 8B. Break-Even Analysis (Volume-Cost-Profit) 348
Chapter 9. Pricing and Output Decision: Monopolistic Competition and Oligopoly 362
Chapter 10. Special Pricing Practices 393
Chapter 11. Game Theory and Asymmetric Information 437
Chapter 12. Capital Budgeting and Risk 467
Appendix 12A. The Value of a Corporation 513
Chapter 13. The Multinational Corporation and Globalization 515
Chapter 14. Government and Industry: Challenges and Opportunities for Today’s Manager 539
Chapter 15. Managerial Economics in Action 565
Appendix A. Statistical and Financial Tables 581
Index 597