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.| Item type | Current location | Collection | Call number | Copy number | Status | Date due | Barcode | Item holds |
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PK Kelkar Library, IIT Kanpur | TEXT | 338.5 V869p cop.1 (Browse shelf) | Copy 1 | Available | A185945 | ||
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PK Kelkar Library, IIT Kanpur | TEXT | 338.5 V869p cop.2 (Browse shelf) | Copy 2 | Available | A185946 | ||
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PK Kelkar Library, IIT Kanpur | TEXT | 338.5 V869p cop.3 (Browse shelf) | Copy 3 | Available | A185947 | ||
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PK Kelkar Library, IIT Kanpur | TEXT | 338.5 V869p cop.4 (Browse shelf) | Copy 4 | Available | A185948 | ||
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PK Kelkar Library, IIT Kanpur | TEXT | 338.5 V869p cop.5 (Browse shelf) | Copy 5 | Available | A185949 | ||
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PK Kelkar Library, IIT Kanpur | TEXT | 338.5 V869p cop.6 (Browse shelf) | Copy 6 | Available | A185950 | ||
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PK Kelkar Library, IIT Kanpur | TEXT | 338.5 V869p cop.7 (Browse shelf) | Copy 7 | Available | A185951 | ||
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PK Kelkar Library, IIT Kanpur | TEXT | 338.5 V869p cop.8 (Browse shelf) | Copy 8 | Available | A185952 |
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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