Test Bank for Intermediate Microeconomics, 8th Edition: Varian

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Product details:

• ISBN-10 ‏ : ‎ 0393934241
• ISBN-13 ‏ : ‎ 978-0393934243
• Author: Hal R. Varian

The #1 best-selling intermediate microeconomics text in the world is still the most modern and contemporary.

Varian is “the Adam Smith of the new discipline of Googlenomics.”―Stephen Levy, Wired

For over 20 years Hal Varian’s Intermediate Microeconomics has given students the most current and complete coverage of intermediate microeconomics at an appropriate mathematical level. The Eighth Edition includes contemporary case studies and examples and relevant coverage of the current economic crisis―all in focused, lecture-length chapters.

Table of contents:

1 The Market

Constructing a Model

1

Optimization and Equilibrium

3

The Demand Curve

3

The Supply Curve

5

Market Equilibrium

7

Comparative Statics

9

Other Ways to Allocate Apartments

11

The Discriminating Monopolist

The Ordinary Monopolist

Rent Control

Which Way Is Best?

14

Pareto Efficiency

15

Comparing Ways to Allocate Apartments

16

Equilibrium in the Long Run

17

Summary

18

Review Questions

19

2 Budget Constraint

The Budget Constraint

20

Two Goods Are Often Enough

21

Properties of the Budget Set

22

How the Budget Line Changes

24

The Numeraire

26

Taxes, Subsidies, and Rationing

26

Example: The Food Stamp Program

Budget Line Changes

31

Summary

31

Review Questions

32

3 Preferences

Consumer Preferences

34

Assumptions about Preferences

35

Indifference Curves

36

Examples of Preferences

37

Perfect Substitutes

Perfect Complements

Bads

Neutrals

Satiation

Discrete Goods

Well-Behaved Preferences

44

The Marginal Rate of Substitution

48

Other Interpretations of the MRS

50

Behavior of the MRS

51

Summary

52

Review Questions

52

4 Utility

Cardinal Utility

57

Constructing a Utility Function

58

Some Examples of Utility Functions

59

Example: Indifference Curves from Utility Perfect Substitutes

Perfect Complements

Quasilinear Preferences

Cobb-Douglas Preferences

Marginal Utility

65

Marginal Utility and MRS

66

Utility for Commuting

67

Summary

69

Review Questions

70

Appendix

70

Example: Cobb-Douglas Preferences

5 Choice

Optimal Choice

73

Consumer Demand

78

Some Examples

78

Perfect Substitutes

Perfect Complements

Neutrals and Bads

Discrete Goods

Concave Preferences

Cobb-Douglas Preferences

Estimating Utility Functions

83

Implications of the MRS Condition

85

Choosing Taxes

87

Summary

89

Review Questions

89

Appendix

90

Example: Cobb-Douglas Demand Functions

6 Demand

Normal and Inferior Goods

96

Income Offer Curves and Engel Curves

97

Some Examples

99

Perfect Substitutes

Perfect Complements

Cobb-Douglas Preferences

Homothetic Preferences

Quasilinear Preferences

Ordinary Goods and Giffen Goods

104

The Price Offer Curve and the Demand Curve

106

Some Examples

107

Perfect Substitutes

Perfect Complements

A Discrete Good

Substitutes and Complements

111

The Inverse Demand Function

112

Summary

114

Review Questions

115

Appendix

115

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