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Prices and Quantities Fundamentals of Microeconomics

Authors

Rakesh V. Vohra
, University of Pennsylvania
Published 2020

Description

Rakesh V. Vohra offers a unique approach to studying and understanding intermediate microeconomics by reversing the conventional order of treatment, starting with topics that are mathematically simpler and progressing to the more complex. The book begins with monopoly, which requires single variable rather than multivariable calculus and allows students to focus clearly on the fundamental trade-off at the heart of economics: margin versus volume. Imperfect competition and the contrast with monopoly follows, introducing the notion of Nash equilibrium. Perfect competition…

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Key features

  • Exposes students to tangible applications up-front by moving from concrete mathematical concepts and problems to ones that are more abstract
  • Draws on real-life anecdotes, such as Amazon and Hachette's struggle over eBook pricing models
  • Covers essential topics with more substantive applications in order to be suitable for semester-long courses

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