Microeconomics For Dummies - UK, UK Edition

Learn to: Succeed with the information you need for your economics course Get a handle on supply and demand Understand the consumer decision-making process and its effects within economics Weigh the effects of oligopolies and monopolies Studying microeconomics? Microeconomics examines the economic behaviour of individual people and individual firms. Sounds pretty straightforward, but it can get complicated in a hurry. Turn to this book and watch everything become understandable! Clear information and plenty of real-world examples help you understand everything from supply and demand to market competition. Small units are a big deal - see how people and firms make decisions, how those decisions become markets, and what causes markets to fail About the consumer - explore the factors that affect consumer choices, how we deal with constraints, and how our decisions affect the greater economy How a firm thinks - learn about costs and cost curves, profit maximisation, supply and demand, equilibrium analysis, and the effect of competition The bigger picture - examine the effects of imperfect competition, the fundamental theorems of welfare economics, what a monopoly creates, and what happens when the market doesn???t make what we want Getting strategic - discover how game theory, auction theory, and Nash Equilibrium come into play Open the book and find: What an oligopoly is and how it affects competition Why competition must sometimes be regulated How consumers make choices What equilibrium analysis tells us All about elasticity and production costs How market niches are chosen Why what you don't know can hurt you Ten great microeconomists