ECON MICRO, 5th Edition

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This is digital download – Official solutions manual accompanying Econ Micro, 5th Edition, Author William A. McEachern.

This is not a textbook download!!

Instant Download after purchase.

ISBN-13: 978-1119036395
ISBN-10: 1305631943

Solutions to end of chapter exercises. 

  1. The Art and Science of Economic Analysis.
  2. Some Tools of Economic Analysis.
  3. Economic Decision Makers.
  4. Demand, Supply, and Markets.
  5. Elasticity of Demand and Supply.
  6. Consumer Choice and Demand.
  7. Production and Cost in the Firm.
  8. Perfect Competition.
  9. Monopoly.
  10. Monopolistic Competition and Oligopoly.
  11. Resource Markets.
  12. Labor Markets and Labor Unions.
  13. Capital, Interest, Entrepreneurship, and Corporate Finance.
  14. Transaction Costs, Asymmetric Information, and Behavioral Economics.
  15. Economic Regulation and Antitrust Policy.
  16. Public Goods and Public Choice.
  17. Externalities and the Environment.
    18 Poverty and Redistribution.
  18. International Trade.
  19. International Finance.
  20. Economic Development.

Examples:

Chapter 5 – ELASTICITY OF DEMAND AND SUPPLY

  1. ED = A/B, where A = (70 – 50)/[(70 + 50)/2] = 0.0833 and B = (0.20 – 1.0)/[(0.20 + 1.0)/2] =0.333 and therefore ED = –0.25 (use absolute value 0.25). A 10 percent price increase (such as from $1.00 to $1.10) causes a 2.5(.25/.1) percent reduction in quantity (from 50 to 48.75 units).

Chapter 10 – MONOPOLISTIC COMPETITION AND OLIGOPOLY

  1.  ECON ch 10 numb 1 example

 

b.  The lowest loss is $30.

c.  The firm should continue to produce up to and including 2 units because marginal revenue still exceeds marginal cost. [See answer to part (d).] In addition, at that quantity, price exceeds average variable cost. Operating in that range allows the firm to cover at least a portion of the fixed costs ($100) that would not be covered at all if the firm shuts down. Specifically, the firm should produce 2 units.

d. Through 2 units of output, marginal revenue exceeds marginal cost. Beyond 2 units, marginal cost exceeds marginal revenue.

Chapter 15 – ECONOMIC REGULATION AND ANTITRUST POLICY

  1. Governments attempt to control business behavior with (1) social regulations, such as those aimed at health and safety in the workplace; (2) economic regulations, where monopoly appears inevitable or even desirable; and (3) antitrust policy, which aims to promote market competition. This chapter examined in detail only two forms of government regulation of business: (a) economic regulation, such as the regulation of natural monopolies, and (b) antitrust policy, which promotes competition and prohibits efforts to monopolize, or cartelize, an industry.

Chapter 20 – INTERNATIONAL FINANCE

1.

a. –$2,075.0 billion
b. –$100.0 billion
c. +$121.5 billion
d. -$345.0 billion
e. +$23.5 billion