Microeconomics II For University of Delhi
Keeping the continuous economic changes in mind, Microeconomics II: For University of Delhi is designed to make the students understand complex microeconomic theories in the simplest of possible ways. Structured specifically for the students of B. Com (Honours) studying Microeconomics II in Delhi Un...
| Autor principal: | |
|---|---|
| Formato: | Libro electrónico |
| Idioma: | Inglés |
| Publicado: |
Noida :
Pearson India
2011.
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| Materias: | |
| Ver en Biblioteca Universitat Ramon Llull: | https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009755078306719 |
Tabla de Contenidos:
- Cover
- Syllabus
- Contents
- Preface
- About the Author
- Part I: Theory of Firm: Determination of Price and Output
- Chapter 1: The Objectives of Business Firms and Their Market Powers
- The Objectives of Business Firms
- Profit Maximization as Business Objective
- Profit-Maximization Conditions
- Numerical Illustration
- Graphical Instruction
- Controversy on Profit-Maximization Objective
- Alternative Objectives of Business Firms
- Conclusion
- The Market Structure and Power of Firms
- Perfect Competition
- Imperfect Competition
- Monopoly
- A Prelude to the Theory of Firm
- Review Questions and Exercises
- Endnotes
- Further Readings
- Chapter 2: Price and Output Determination Under Perfect Competition
- Characteristics of Perfect Competition
- Perfect versus Pure Competition
- Role of a Firm in a Perfectly Competitive Market
- What are the Firm's Options
- Short-Run Equilibrium of the Firm
- Assumptions
- Does a Firm Always Make Profit in the Short-run?
- Shut-down or Close-down Point
- Derivation of Supply Curve: A Digression
- Derivation of Firm's Supply Curve
- Derivation of Industry Supply Curve
- Short-Run Equilibrium of Industry and Firm
- Link Between Short-run Equilibrium of the Industry and the Firm
- Long-Run Equilibrium of the Firm and Industry
- Equilibrium of the Firm in the Long-run
- Equilibrium of Industry
- Long-Run Supply Curve of a Competitive Industry
- Constant Cost Industry
- Increasing Cost Industry
- Decreasing Cost Industry
- Whether Decreasing Cost
- Conclusion
- Review Questions and Exercises
- Endnotes
- Further Readings
- Chapter 3: Price and Output Determination Under Monopoly
- Introduction
- Monopoly and Sources of Monopoly Power
- Definition and Features
- Sources and Kinds of Monopolies
- Cost and Revenue Curves Under Monopoly.
- AR and MR Curves under Monopoly
- Short-Run Equilibrium of the Monopoly: Price and Output Determination
- Monopoly Equilibrium by Total Revenue-Total Cost Approach
- Monopoly Equilibrium by MR-MC Approach
- Algebra of Profit Maximization: A Numerical Illustration
- Does a Monopoly Firm always Make Pure Profit?
- Profit Maximization by Using MC and Price Elasticity
- No Supply Curve Under Monopoly: A Digression
- Monopoly Equilibrium in the Long Run
- Capacity Utilization Under Monopoly
- Equilibrium of a Multi-Plant Monopoly
- The Long-run Adjustments
- Price Discrimination Under Monopoly
- Price Discrimination
- Necessary Conditions for Price Discrimination
- Degrees of Price Discrimination
- Is Price Discrimination Desirable?
- The Gain to Monopolist from Price Discrimination
- Monopoly vs. Perfect Competition
- Comparison of Long-run Price and Output
- The Deadweight Loss under Monopoly
- Some Other Monopoly-Related Issues
- Incidence of Taxes and Effect of Subsidy Under Monopoly
- Peak-Load Pricing by a Monopoly
- Government Regulation of Monopoly Prices
- Measures of Monopoly Power
- Measures of Monopoly Power
- Appendix
- The Third-Degree Price Discrimination: An Algebraic Solution
- Review Questions and Exercises
- Endnotes
- Further Readings
- Chapter 4: Price and Output Determination Under Monopolistic Competition
- Introduction
- Monopolistic Competition: Definition and Characteristics
- Definition of Monopolistic Competition
- Characteristics of Monopolistic Competition
- Chamberlin's Theory of Monopolistic Competition
- Basic Elements of Chamberlin's Theory
- Product Differentiation and Firm's Perceived Demand Curve
- Selling Costs and Firm's Cost Structure
- Concept of Industry and Product Groups
- Firm's Equilibrium Under Monopolistic Competition
- Assumptions.
- Short-run Equilibrium of the Firm
- Long-run Equilibrium of the Firm
- Excess Capacity Under Monopolistic Competition
- Ideal Output and Excess Capacity
- Non-price Competition and Excess Capacity
- Selling Cost and Firm's Equilibrium: Non-Price Competition
- Individual Equilibrium with Selling Cost
- Group Equilibrium
- Monopolistic Competition Versus Perfect Competition: A Comparison
- Criticism of Chamberlin's Theory of Monopolistic Competition
- Appendix
- Long-run Equilibrium of Firms Under Monopolistic Competition
- Model I: Long-run Equilibrium with Free Entry of New Firms
- Model II: Long-run Equilibrium with Price Competition
- Model III: Long-run Equilibrium with Free Entry and Price Competition
- Review Questions and Exercises
- Endnotes
- Further Readings
- Chapter 5: Price and Output Determine Oligopoly
- Introduction
- Oligopoly: A Market of Few Sellers
- Definition of Oligopoly
- Factors Causing Oligopoly
- Features of Oligopoly
- The Oligopoly Models: An Overview
- Duopoly Models of Oligopoly
- Cournot's Duopoly Model
- Bertrand's Duopoly Model
- Edgeworth's Duopoly Model
- Stackelberg's Leadership Model
- Oligopoly Models
- Non-Collusive Models of Oligopoly
- Sweezy's Model of Oligopoly: Kinked-Demand Curve Model
- Collusive Model of Oligopoly
- What is a Cartel Form of Collusion?
- Price Leadership Models
- Price Leadership by a Low-Cost Firm
- Price Leadership by the Dominant Firm
- The Barometric Price Leadership
- Baumol's Theory of Sales Maximization: An Alternative Theory
- Baumol's Model without Advertising
- Baumol's Model with Advertising
- The Game Theory
- The Nature of the Problem: Prisoners' Dilemma
- Application of Game Theory to Oligopolistic Strategy
- Concluding Remarks
- Review Questions and Exercises
- Endnotes
- Further Readings.
- Part II: Factor Market and Factor Pricing
- Chapter 6: The Factor Market: Factor Demand and Supply
- Introduction
- The Theory of Distribution and Factor Pricing: An Overview
- Peculiarities of Factor Demand and Supply
- Development of Theories of Factor Pricing
- Factor Demand: Why a Factor is Demanded
- Factor Demand is a Derived Demand
- Marginal Revenue Productivity: The Basic Determinant of Factor Demand
- Marginal Productivity and Factor Demand
- Factor Supply: Supply of Labour
- Derivation of Individual Labour Supply Curve
- Market Labour Supply Curve
- Determination of Market Wage Rate: A Simple Theory
- Shift in Factor Market Equilibrium and its Stability
- Review Questions and Exercises
- Endnotes
- Further Readings
- Chapter 7: Wage Determination Under Perfect Competition
- Introduction
- Wage Determination in a Perfectly Competitive Market
- Derivation of Labour Demand Curve
- Derivation of Labour Demand Curve with Two Variable Inputs
- Industry Demand Curve for a Variable Factor: Labour
- Determination of Market Wage Rate
- Non-Homogeneous Labour and Wage Differentials
- Dynamic Wage Differentials
- Static Wage Differentials
- Wage Differentials due to Heterogeneity of Labour
- The Nature and Causes of Persisting Wage Differentials
- Summary
- Review Questions and Exercises
- Endnotes
- Further Readings
- Chapter 8: Wage and Employment Determination Under Imperfect Competition
- Introduction
- Wage Determination Under Product Monopoly and Perfect Competition in Labour Market
- Derivation of MRPL Curve under Product Monopoly
- Exploitation of Labour by Monopoly
- Wage Determination Under Product Monopoly and Factor Monopsony
- Marginal Cost of a Variable Factor (Labour)
- Wages and Employment under Monopsony: Single Variable Factor (Labour).
- Factor Price and Employment under Monopsony: Two Variable Factors Case
- Perfect Competition in Commodity Market and Monopoly in Labour Market: The Case of Labour Union
- Wage Determination Under Bilateral Monopoly: The Case of Collective Bargaining
- Equilibrium under Bilateral Monopoly is Indeterminate
- Indeterminateness of Bilateral Monopoly
- Labour Union and Monopsonistic Exploitation
- Application of the Wage Determination Theory
- Effects of Minimum Wage Laws in Perfectly Competitive Markets
- Why is Minimum Wage Law Justified?
- Minimum Wage Laws, Monopsony and Trade Unions
- Review Questions and Problems
- Endnotes
- Further Readings
- Chapter 9: Theory of Rent
- Introduction
- Land as a Factor of Production
- Historical Background of Rent Theory
- The Ricardian Theory of Rent
- Ricardian Definition of Rent
- The Ricardian Theory of Rent
- Criticism
- Transfer Earning and Economic Rent: The Modern Approach
- Elasticity of Factor Supply and Economic Rent
- Quasi-Rent: The Short-Term Earning of Fixed Factors
- Graphical Illustration of Quasi-rent
- Is Rent Price Determined or Price is Rent Determined?
- A Classical Controversy
- Modern View
- Rent Controls: An Application of Rent Theory
- Does This Happen in Reality?
- 'Who Loses and Who Benefits?'
- Review Questions and Exercises
- Endnotes
- Further Readings
- Chapter 10: Theories of Interest and Investment Decisions
- Introduction
- Capital as a Factor of Production
- Some Early Thoughts on Interest Theory
- Theories of Interest
- Bohm-Bawerk's Theory of Interest
- Fisher's Theory of Interest: The Time Preference Theory
- Criticism
- The Classical Theory of Interest
- Keynes' Criticism of Classical Theory
- The Loanable Fund Theory of Interest
- Classical vs Neo-Classical Theory of Interest
- Criticism
- Interest and Investment Decisions.
- The Time Value of Money.
