Microeconomics demystified: a self-teaching guide

"Now anyone can grasp the fundamentals of microeconomics-without formal training, unlimited time, or a genius IQ. In Microeconomics Demystified, Economics professor Craig Depken provides an effective, illuminating, and entertaining way to learn this complex subject." "This self-teaching guide explains the concepts of microeconomics, including supply and demand, elasticities, consumer and producer surplus, the role of the firm, various market models, and more. The book combines an intuitive approach with "practical" mathematics, using easy-to-read graphs and simple arithmetic. Featuring end-of-chapter quizzes and a final exam, this book will teach you the ins and outs of microeconomics in no time at all. Book jacket."--BOOK JACKET.

Subtitle from cover.

Includes index.

The Language of Economics -- Math Review -- Production and Growth -- Production -- Production in a Robinson Crusoe Economy -- Economic Growth -- Gains from Trade -- Demand and Supply -- Demand -- Supply -- Price as a Regulator in the Market -- Changes in Demand -- Changes in Supply -- Changes in Supply and Demand -- Government Interventions in the Market -- Price Floors and Ceilings -- Quantity Controls -- Taxation in the Supply and Demand Model -- Elasticity -- Price Elasticity of Demand -- Income Elasticity of Demand -- Cross Elasticity of Demand -- Elasticity of Supply -- Applications of Elasticity -- Price Elasticity of Supply and Demand and the Burden of a Sales Tax -- Consumer and Producer Surplus -- Consumer Surplus -- Producer Surplus -- Changes in Consumer and Producer Surplus and Changes in Supply and Demand -- The Impact of a Sales Tax on Consumer and Producer Surplus -- Utility -- The Utility Function and Indifference Curves -- The Household's Income Constraint -- The Household's Consumption Equilibrium -- The Law of Demand and Utility Theory -- Income and Substitution Effects -- Substitution Effect -- The Income Effect -- Combining Substitution and Income Effects -- T…