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Managerial Economics: Theory, Applications, and Cases [Pehme köide]

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  • Formaat: Paperback / softback, 684 pages, kaal: 1086 g
  • Ilmumisaeg: 24-Mar-2009
  • Kirjastus: WW Norton & Co
  • ISBN-10: 0393114430
  • ISBN-13: 9780393114430
Teised raamatud teemal:
Managerial Economics: Theory, Applications, and CasesSuurem pilt
  • Formaat: Paperback / softback, 684 pages, kaal: 1086 g
  • Ilmumisaeg: 24-Mar-2009
  • Kirjastus: WW Norton & Co
  • ISBN-10: 0393114430
  • ISBN-13: 9780393114430
Teised raamatud teemal:
Püsilink: https://www.kriso.ee/db/9780393114430.html
In today’s managerial world, it’s critical that students learn how to make strategic economic decisions.

The seventh edition of Managerial Economics is the most current text available, encouraging students to see beyond the equations and graphs to the general precepts, such as marginal analysis and backward induction. Its new content draws on dozens of contemporary case studies, inviting students to apply problem-solving skills and to reflect on real-world economic decisions.
Preface xv
PART 1: THE NEED FOR A GUIDE
1(22)
Introduction
2(21)
The Theory of the Firm
3(2)
What is Profit?
5(1)
Reasons for the Existence of Profit
6(1)
Managerial Interests and the Principal-Agent Problem
6(1)
Demand and Supply: A First Look
7(2)
The Demand Side of a Market
9(2)
The Supply Side of a Market
11(2)
Equilibrium Price
13(2)
Actual Price
15(1)
What if the Demand Curve Shifts?
15(2)
What if the Supply Curve Shifts?
17(2)
Summary
19(1)
Problems
20(3)
PART 2: THE NATURE OF MARKETS
23(70)
Demand Theory
24(36)
The Market Demand Curve
25(4)
Industry and Firm Demand Functions
29(2)
The Own-Price Elasticity of Demand
31(3)
Point and Arc Elasticities
34(2)
Using the Demand Function to Calculate the Price Elasticity of Demand
36(1)
The Effect of Price Elasticity on the Firm's Revenue of Demand
37(1)
Funding Public Transit
38(1)
Determinants of the Own-Price Elasticity of Demand
39(2)
The Strategic Use of the Price Elasticity of Demand
41(2)
Total Revenue, Marginal Revenue, and Price Elasticity
43(5)
The Income Elasticity of Demand
48(2)
Cross-Price Elasticities of Demand
50(2)
The Advertising Elasticity of Demand
52(2)
The Constant-Elasticity and Unitary Demand Function
54(1)
Summary
55(1)
Problems
56(4)
Consumer Behavior and Rational Choice
60(33)
Indifference Curves
61(2)
The Marginal Rate of Substitution
63(2)
The Concept of Utility
65(1)
The Budget Line
66(2)
The Equilibrium Market Bundle
68(3)
Maximizing Utility: A Closer Look
71(1)
Corner Solutions
71(3)
How Managers Can Strategically Influence Consumer Choices
74(5)
Deriving the Individual Demand Curve
79(4)
Deriving the Market Demand Curve
83(2)
Consumer Surplus
85(3)
Summary
88(1)
Problems
89(4)
PART 3: PRODUCTION AND COST
93(74)
Production Theory
94(33)
The Production Function with One Variable Input
95(6)
The Law of Diminishing Marginal Returns
101(1)
The Production Function with Two Variable Inputs
101(2)
Isoquants
103(3)
The Marginal Rate of Technical Substitution
106(2)
The Optimal Combination of Input
108(3)
Corner Solutions
111(1)
Returns to Scale
111(4)
The Output Elasticity
115(2)
Estimations of Production Functions
117(3)
Summary
120(1)
Problems
120(3)
Lagrangian Multipliers and Optimal Input Combinations
123(4)
The Analysis of Costs
127(40)
Opportunity Costs
128(1)
Short-Run Cost Functions
129(3)
Average and Marginal Costs
132(7)
Long-Run Cost Functions
139(5)
Managerial Use of Scale of Economics
144(2)
Managerial Use of Scope Economics
146(2)
Managerial Use of Break-Even Analysis
148(2)
Profit Contribution Analysis
150(1)
Summary
151(1)
Problems
152(4)
Break-Even Analysis and Operating Leverage
156(4)
Measurement of Short-Run Cost Functions: The Choice of a Mathematical Form
160(7)
PART 4: MARKET STRUCTURE AND SIMPLE PRICING STRATEGIES
167(74)
Perfect competition
168(30)
Market Structure
169(3)
Market Price in Perfect Competition
172(1)
Shifts in Supply and Demand Curves
173(1)
The Output Decision of a Perfectly Competitive Firm
174(4)
Setting the Marginal Cost Equal to the Price
178(5)
Another Way of Viewing the Price Equals Marginal Cost Profit-Maximizing Rule
183(3)
Producer Surplus in the Short Run
186(2)
Long-Run Equilibrium of the Firm
188(2)
The Long-Run Adjustment Process: A Constant-Cost Industry
190(2)
The Long-Run Adjustment Process: An Increasing-Cost Industry
192(2)
How a Perfectly Competitive Economy Allocates Resources
194(1)
Summary
195(1)
Problems
196(2)
Monopoly and Monopolistic Competition
198(43)
Pricing and Output Decisions in Monopoly
201(8)
Cost-Plus Pricing
209(2)
Cost-Plus Pricing at Therma-Stent
211(1)
Cost-Plus Pricing at Internet Companies and Government-Regulated Industries
212(1)
Can Cost-Plus Pricing Maximize Profit?
212(2)
The Multiple-Product Firm: Demand Interrelationships
214(1)
Pricing of Joint Products: Fixed Proportions
215(5)
Output of Joint Products: Variable Proportions
220(2)
Monopsony
222(2)
Monopolistic Competition
224(2)
Advertising Expenditures: A Simple Rule
226(2)
Using Graphs to Help Determine Advertising Expenditure
228(1)
Advertising, Price Elasticity, and Brand Equity: Evidence on Managerial Behavior
229(1)
Summary
230(2)
Problems
232(4)
Appendix: Allocation of Output among Plants
236(5)
PART 5: SOPHISTICATED MARKET PRICING
241(92)
The Managerial Use of Price Discrimination
242(46)
Motivation for Price Discrimination
243(1)
Price Discrimination
244(13)
Using Coupons and Rebates for Price Discrimination
257(3)
Peak Load Pricing
260(6)
Two-Part Tariffs
266(11)
Summary
277(1)
Problems
277(5)
Two-Part Tariff with Intersecting Demands
282(6)
Bundling and Intrafirm Pricing
288(45)
The Mechanics of Bundling
289(19)
When to Unbundle
308(3)
Bundling as a Preemptive Entry Strategy
311(3)
Tying at IBM, Xerox, and Microsoft
314(3)
Transfer Pricing
317(4)
Transfer Pricing: A Perfectly Competitive Market for the Upstream Product
321(3)
The Global Use of Transfer Pricing
324(3)
Summary
327(1)
Problems
327(6)
PART 6: THE STRATEGIC WORLD OF MANAGERS
333(96)
Oligopoly
334(34)
Cooperative Behavior
335(2)
The Breakdown of Collusive Agreements
337(1)
Price Leadership
338(2)
Possible Behavior in Markets with Few Rivals
340(16)
Duopolists and Price Competition with Differentiated Products
356(4)
The Sticky Pricing of Managers
360(1)
Summary
361(1)
Problems
362(6)
Game Theory
368(35)
Making Strategy and Game Theory
368(1)
Strategy Basics
369(2)
Visual Representation
371(4)
Solution Concepts
375(1)
Equilibria
375(1)
Dominant Strategies
376(4)
The Nash Equilibrium
380(3)
Strategic Foresight: The Use of Backward Induction
383(5)
Repeated Games
388(2)
Incomplete Information Games
390(3)
Reputation Building
393(1)
Coordination Games
394(4)
Strictly Competitive Games
398(1)
Summary
399(1)
Problems
400(3)
Auctions
403(26)
A Short History of Auctions
404(1)
Types of Auction Mechanisms
404(2)
Auction Mechanism and Revenue Generation
406(2)
Bidding Strategies
408(3)
Strategies for Sellers
411(5)
Value of Information
416(4)
Risk Aversion
420(1)
Number of Bidders
421(1)
Winner's Curse
422(2)
Concerns in Auction Design
424(1)
Summary
425(1)
Problems
425(4)
PART 7: RISK, UNCERTAINTY, AND INCENTIVES
429(104)
Risk Analysis
430(31)
Risk and Probability
431(3)
Probability Distributions and Expected Values
434(1)
Comparisons of Expected Profit
435(1)
Road Map to Decision
436(4)
The Expected Value of Perfect Information
440(4)
Measuring Attitudes toward Risk: The Utility Approach
444(3)
Attitudes toward Risk: Three Types
447(2)
The Standard Deviation and Coefficient of Variation: Measures of Risk
449(2)
Adjusting the Valuation Model for Risk
451(2)
Certainty Equivalence and the Market for Insurance
453(3)
Summary
456(1)
Problems
457(4)
Principal-Agent Issues and Managerial Compensation
461(44)
Principal-Agent Issues
461(2)
The Diverging Paths of Owners and Managers
463(1)
The Principal-Agent Situation
464(2)
The Effect of Risk, Information, and Compensation on Principal-Agent Issues
466(9)
Resolving the Incentive Conflict When Output is Risky and Effort is not Observable
475(6)
Some Refinements to Managerial Compensation
481(6)
Principal-Agent Issues in Other Contexts
487(9)
Product Liability and the Safety of Consumer Goods
496(4)
Summary
500(1)
Problems
501(4)
Adverse Selection
505(28)
The Market for ``Lemons''
506(2)
Adverse Selection in Automobile Insurance
508(4)
The Market for Annuities
512(8)
Resolving Adverse Selection through Self-Selection
520(3)
Using Education as a Signal: Adverse Selection in the Job Market
523(3)
Using Warranties as Signals: Adverse Selection in the Product Market
526(3)
Summary
529(1)
Problems
530(3)
PART 8: GOVERNMENT ACTIONS AND MANAGERIAL BEHAVIOR
533(64)
Government and Business
534(63)
Competition versus Monopoly
536(1)
Regulation of Monopoly
537(3)
The Lone Star Gas Company: A Case Study
540(3)
Effects of Regulation and Efficiency
543(1)
The Concentration of Economic Power
543(6)
The Sherman Act
549(1)
The Clayton Act, the Robinson-Patman Act, and the Federal Trade Commission Act
550(2)
Interpretation of the Antitrust Laws
552(2)
The Patent System
554(3)
Trade and Trade Policy
557(13)
Government Price Ceilings and Price Floors
570(3)
The Welfare Impacts of Taxes
573(1)
Regulation of Enviornmental Pollution
574(11)
Public Goods
585(5)
Summary
590(2)
Problems
592(5)
APPENDIX A OPTIMIZATION TECHNIQUES
597(30)
Functional Relationships
597(1)
Marginal Analysis
598(2)
Relationships among Total, Marginal, and Average Values
600(3)
The Concept of a Derivative
603(4)
How to Find a Derivative
607(6)
Using Derivatives to Solve Maximization and Minimization Problems
613(4)
Marginal Cost Equals Marginal Revenue and the Calculus of Optimization
617(2)
Partial Differentiation and the Maximization of Multivariable Functions
619(1)
Constrained Optimization
620(3)
Lagrangian Multipliers
623(2)
Comparing Incremental Costs with Incremental Revenues
625(2)
APPENDIX B DISCOUNTING AND PRESENT VALUES
627(8)
Present Value of a Series of Payments
629(1)
The use of Periods Other Than a Year
630(2)
Determining the Internal Rate of Return
632(3)
APPENDIX C ANSWERS TO SELECT END-OF-CHAPTER PROBLEMS
635(24)
APPENDIX D TABLES
659(16)
Index 675