PART 1 INTRODUCTION TO ECONOMICS 1
1 Introducing the Economic Way of Thinking 2
APPENDIX TO CHAPTER 1 Applying Graphs to Economics 20
2 Production Possibilities,Opportunity Cost,and Economic Growth 32
3 Market Demand and Supply 50
4 Markets in Action 79
APPENDIX TO CHAPTER 4 Applying Supply and Demand Analysis to Health Care 100
PART 2 MICROECONOMIC FUNDAMENTALS 105
5 Price Elasticity of Demand and Supply 106
6 Consumer Choice Theory 130
7 Production Costs 144
PART 3 MARKET STRUCTURES 171
8 Perfect Competition 172
9 Monopoly 200
10 Monopolistic Competition and Oligopoly 222
11 Labor Markets 245
PART 4 MICROECONOMIC POLICY ISSUES 267
12 Income Distribution,Poverty,and Discrimination 268
13 Antitrust and Regulation 293
14 Environmental Economics 321
PART 5 THE INTERNATIONAL ECONOMY 345
15 International Trade and Finance 346
Appendix A Answers to Odd-Numbered Study Questions and Problems 425
Appendix B Practice Quiz Answers 437
Appendix C United States Gross Domestic Product and Related Statistics 439
Glossary 449
Index 457