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Tableofcontents
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1. Introduction
2. Supply and Demand
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3. Applying the Supply-and-Demand Model
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4. Consumer Choice c
5. Applying Consumer Theory
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6. Firms and Production
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7. Costs
8. Competitive Firms and Markets c c c
9. Applying the Competitive Model
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10. General Equilibrium and Economic Welfare
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11. Monopoly
12. Pricing and Advertising c c
13. Oligopoly and Monopolistic Competition c c c
14. Game Theory c
15. Factor Markets c
16. Interest Rates, Investments, and Capital Markets
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17. Uncertainty
18. Externalities, Open-Access, and Public Goods c c c c
19. Asymmetric Information c
20. Contracts and Moral Hazards c c c
,Chapter 1 c Introduction
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1.1 Microeconomics: The Allocationof Scarce Resources c c c c c
1) Microeconomics studies the allocation of c c c c
A) decision makers. c
B) scarce resources. c
C) models.
D) unlimited
c resources. ANSWER: cc
B
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Section: The Allocation of Scarce c c c
c Resources Question Status: Old
c c
AACSB: Analytic thinking c
2) Microeconomics is often called c c c
A) price theory.c
B) decision science. c
C) scarcity.
D) resource
c theory. c
c ANSWER: A c
Section: The Allocation of Scarce c c c
c Resources Question Status: Old
c c
AACSB: Analytic thinking c
3) Most microeconomic models assume that decision makers wish to
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A) make themselves as well off as possible.
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, B) act selfishly.
c
C) make others as well off as possible.
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D) None of the c c
c above. ANSWER: A
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Section: The Allocation of Scarce Resources
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