This textbook for an intermediate economics course covers the basics of price theory along with the economics of information and decision-making under uncertainty. It develops basic theory with many illustrative numerical problems, and bridges the gap between theory and the real world by developing analytical and problem solving skills, and by including numerous examples that apply theory to many business situations. In addition, it shows the student how to use microeconomic theory to understand the world and make business decisions. End-of-chapter problems show students how to think like economists and how to analyze economic conditions.
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