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Prices and quantities : fundamentals of microeconomics

By: Vohra, Rakesh V.
Publisher: Cambridge Cambridge University Press 2020Description: xv, 207p.ISBN: 9781108715690.Subject(s): Microeconomics | Microeconomics -- Study and teaching | PricesDDC classification: 338.5 | V869p Summary: 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 is addressed toward the end of the book, and framed as a model of non-strategic behavior by firms and agents. The last chapter is devoted to externalities, with an emphasis on how one might design competitive markets to price externalities and linking the difficulties to the problem of efficient provision of public goods. Real-life examples engage the reader while encouraging them to think critically about the interplay between model and reality.
List(s) this item appears in: New arrival Sept 19 to 25, 2022
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Item type Current location Collection Call number Copy number Status Date due Barcode Item holds
Text Books Text Books PK Kelkar Library, IIT Kanpur
TEXT 338.5 V869p cop.1 (Browse shelf) Copy 1 Available A185945
Text Books Text Books PK Kelkar Library, IIT Kanpur
TEXT 338.5 V869p cop.2 (Browse shelf) Copy 2 Available A185946
Text Books Text Books PK Kelkar Library, IIT Kanpur
TEXT 338.5 V869p cop.3 (Browse shelf) Copy 3 Available A185947
Text Books Text Books PK Kelkar Library, IIT Kanpur
TEXT 338.5 V869p cop.4 (Browse shelf) Copy 4 Available A185948
Text Books Text Books PK Kelkar Library, IIT Kanpur
TEXT 338.5 V869p cop.5 (Browse shelf) Copy 5 Available A185949
Text Books Text Books PK Kelkar Library, IIT Kanpur
TEXT 338.5 V869p cop.6 (Browse shelf) Copy 6 Available A185950
Text Books Text Books PK Kelkar Library, IIT Kanpur
TEXT 338.5 V869p cop.7 (Browse shelf) Copy 7 Available A185951
Text Books Text Books PK Kelkar Library, IIT Kanpur
TEXT 338.5 V869p cop.8 (Browse shelf) Copy 8 Available A185952
Total holds: 0

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 is addressed toward the end of the book, and framed as a model of non-strategic behavior by firms and agents. The last chapter is devoted to externalities, with an emphasis on how one might design competitive markets to price externalities and linking the difficulties to the problem of efficient provision of public goods. Real-life examples engage the reader while encouraging them to think critically about the interplay between model and reality.

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