Publisher's Synopsis
This text provides a treatment of microeconomic theory with a minimal level of mathematics. It features examples of business applications in each chapter to provide students with a presentation of theory at work in real companies, industry and government.;The text presents the newest developments in micro theory, including: coverage of game theory and competitive strategy which demonstrates how these theories work in a competitive market-place; markets with asymmetric information, risk and uncertainty, pricing by firms with market power, and externalities and public goods. Each chapter shows how economic theories relate to the actual practice of companies, industries, and public agencies, demonstrating the ways in which ecomonic theory works in practice. All major concepts are visually supported with graphs and charts.
