Microeconomics: Theory and Applications with Calculus, 5th Edition

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About the book

Revised applications and challenges illustrate the versatility of microeconomic theory

• Updated - Solved Problems provide students with a step-ystep model for working out qualitative and quantitative problems using algebra and calculus. Students get the opportunity to practice the method modeled in a series of related exercises at the end of each chapter (744 exercises in total).
• Updated - Challenges combine an Application and a Solved Problem. Each chapter (excluding Chapter 1) begins with a Challenge, which discusses a realworld issue, and concludes with one or more questions based on that discussion. At the end of the chapter, a Challenge Solution answers these questions.

Analysis of real-life problems and public policy changes ensure the text remains relevant and up-to-date

• Updated - Real-World Examples use real people, companies, and data to illustrate basic microeconomic theory and provide students with a practical perspective that showcases the versatility of modern microeconomics.
• Updated - Extensive coverage of problems from resource economics, labor economics, international trade, public finance, and industrial organization analyzed using contemporary theories is included. 
• Updated - What-If Policy Analysis sections use microeconomic models to probe the likely outcomes of changes in public policies. Students learn how to conduct what-if analyses of policies such as taxes, subsidies, barriers to entry, price floors and ceilings, quotas and tariffs, zoning, pollution controls, and licensing laws. The text analyzes the effects of taxes on virtually every type of market, as well as the limitations of applying economic theory to policy analysis.

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