Principles of Microeco m m
nomics FOURTH EDITION m m m
N. Gregory Mankiw
m m m
Harvard University m m
Prepared by m m
Daniel K.Biederman
m m
University of North Dakota
m m m m
Kenneth H.Brown m m
University of Northern Iowa
m m m m
Lisa K. Jepsen
m m m
University of Northern Iowa
m m m m
Bryce Kanago m m
University of Northern Iowa
m m m m
Ken McCormick
m m
University of Northern Iowa
m m m
TestmBank mm
Principles mofmMicroeconomics,m4th mEditionmm
N.mGregorymMankiw mm
Prepared mbym
DanielmK.mBiederman, mKenneth mH.mBrown,mLisa mK.mJepsen,mBryce mKanago, mand mKen mMcCormick.mm
Developmental mEditor:mm
VP/Editorial mDirector:mm Jane mTuftsmm
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Alexmvon mRosenberg mm JennifermE.mBakermm COPYRIGHTm©m2007 mm
Sr.mMarketingmManager:mm Thomson mSouth-
Publisher:mm
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CovermIllustration:mm 5191 mNatorp mBoulevard mm
Tate mGallery,mLondon/Art mResource, mNY mm
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Contents mm
PrefacemvmmChapterm1mTenmPrinciplesmof mEconomicsm1mmChapterm2m ThinkingmLike manmEcon
omist m35mmChapterm3mInterdependencemand mthemGainsmfrommTradem80mmChapterm4mThemMar
ket mForcesmof mSupplymand mDemand m117mmChapterm5mElasticitymand mItsmApplicationsm169mmC
hapterm6mSupply,mDemand,mand mGovernment mPoliciesm217mmChapterm7mConsumers,mProduc
ers,mand mthemEfficiencymof mMarketsm261mmChapterm8mApplication:mThemCostsmof mTaxationm3
05mmChapterm9mApplication:mInternationalmTradem345mmChapterm10mExternalitiesm389mmChapt
erm11mPublicmGoodsmand mCommonmResourcesm435mmChapterm12mThemDesignmof mthemTaxmSy
stemm474mmChapterm13mThemCostsmof mProductionm522mmChapterm14mFirmsminmCompetitivem
Marketsm574mmChapterm15mMonopolym621mmChapterm16mOligopolym674mmChapterm17mMonop
olisticmCompetitionm726mmChapterm18mThemMarketsmformthemFactorsmof mProductionm769mmCh
apterm19mEarningsmand mDiscriminationm814mmChapterm20mIncomemInequalitymand mPovertym8
58mmChapterm21mThemTheorymof mConsumermChoicem898mmChapterm22mFrontiersmof mMicroeco
nomicsm946mmm
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Preface mm
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ngmmtomdeterminemhowmchaptersmaremshared mamongmthemfivemversionmof mthemtext.mm
Acknowledgementsmm
SpecialmthanksmtomKenmMcCormickmand mDavid mHakesmof mthemUniversitymof mNorthernmIowamformth
eirmmreview mof mthemtest mbankmformaccuracymand mcompleteness.mm
Formtheirmhelpfulmcommentsmprovided minmamsurvey,mthanksmalsomtomJosiahmBaker, mJ.mUlyssesmBalderas,
mmKingmBanaian,mBrucemBrown,mMargaret mChapman,mByronmChapman,mBasantamChaudhuri,mBarbaramm
Craig,mSusannemCurrier,mSusanmDadres,mStratford mDouglas,mDavid mEaton,mCanmErbil,mPatriciamEuzent,
mmFred mFoldvary,mLynnmGillette,mPhilmHolleran,mJamesmHvidding,mLeomKahane,mBrianmKench,mFionam
C.mmMaclachlan,mThomasmMakemson,m Tomm Means,m JeffreymMichael, mPetermOlson,mDrew mParkes, mJodi
mmPelkowski,mMichaelmPisani,mMarlenemReed,mThomas mRhoads,mRaymond mRobertson,mUdayanmRoy,mJ
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Comparative Table of Contents
m m m m
Core m Micro Macro Essentials Briefm
m m m m
Macro
m
Partm1:mIntroductionm Partm1 Partm1 Partm1 m Partm1
m m m