Microeconomics

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The basic purpose of this textbook: to explain microeconomic theory in the clearest and most interesting possible way and to indicate the wide range of practical applications of microeconomic theory. In this new edition, the emphasis is on bringing uncertainty into the core materials at the beginning of the course, extending and deepening the treatment of investment decisions, using the concepts of consumer, producer, and total surplus immediately after taking up perfect competition and monopoly, and enriching and reorganizing the chapters on monopoly and oligopoly.