Uncover the impact of market failures and externalities, and understand the need for government intervention and income redistribution. Learn about market efficiency and welfare economics, including concepts like Pareto efficiency and consumer and producer surplus. Delve into the theory of the firm and pricing strategies, from perfect competition to price discrimination, and explore the intersection of microeconomics and public policy.
With its comprehensive coverage and engaging explanations, this book is a valuable resource for students and professionals alike. Whether you're studying economics or interested in understanding the intricacies of microeconomic analysis, this book provides the necessary tools and knowledge. Enhance your understanding of the economy and its underlying principles with this essential guide to microeconomics.