Includes index.

Part I Introduction 1 The Role and Method of Economics Appendix: Working With Graphs 2 The Economic Way of Thinking 3 Scarcity, Trade-Off, and Production Possibilities Part II Supply And Demand 4 Supply and Demand 5 Bringing Supply and Demand Together 6 Elasticities Part III Market Effciency, Market Failure, And The Public Sector 7 Market Efficiency and Welfare 8 Market Failure 9 Public Sector and Public Choice Part IV Households And Market Structure 10 Consumer Choice Theory Appendix: Indifference Curve Analysis 11 The Firm: Production and Costs 12 Firms in Perfectly Competitive Markets 13 Monopoly and Antitrust 14 Monopolistic Competition and Product Differentiation 15 Oligopoly and Strategic Behavior Part V Input Markets And Microeconomic Policy Issues 16 The Markets for Labor, Capital, and Land 17 Income and Poverty 18 The Environment 19 Health Care Part VI The Global Economy 20 International Trade 21 International Finance.

EXPLORING MICROECONOMICS, Fifth Edition, was designed specifically to promote microeconomic literacy and help students appreciate how microeconomics affects their everyday lives. This engaging text combines innovative learning tools, a visually appealing design, and captivating content to help students easily absorb information and master key concepts. Packed with examples from current events and pop culture, EXPLORING MICROECONOMICS succeeds like no other book in conveying the excitement and real-world relevance of microeconomics.