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Section 8 Module 61 Introduction to Monopoly 608
The Open Economy: International Trade and Module 62 Monopoly and Public Policy 617
Finance 409 Module 63 Price Discrimination 624
Module 41 Capital Flows and the Balance of Payments 410
Module 42 The Foreign Exchange Market 421
Section 12
Module 43 Exchange Rate Policy 431
Market Structures: Imperfect Competition 637
Module 44 Exchange Rates and Macroeconomic Policy 437
Module 64 Introduction to Oligopoly 638
Module 45 Putting it All Together 443
Module 65 Game Theory 644
Microeconomics Module 66 Oligopoly in Practice 652
Module 67 Introduction to Monopolistic Competition 659
Section 9
Module 68 Product Differentiation and Advertising 668
Behind the Demand Curve: Consumer Choice 457
Module 46 Income Effects, Substitution Effects,
and Elasticity 458 Section 13
Factor Markets 679
Module 47 Interpreting Price Elasticity of Demand 466
Module 69 Introduction and Factor Demand 680
Module 48 Other Elasticities 475
Module 70 The Markets for Land and Capital 690
Module 49 Consumer and Producer Surplus 482
Module 71 The Market for Labor 695
Module 50 Efficiency and Deadweight Loss 495
Module 72 The Cost-Minimizing Input Combination 706
Module 51 Utility Maximization 511
Module 73 Theories of Income Distribution 711
Section 10
Behind the Supply Curve: Profit, Production, Section 14
and Costs 529 Market Failure and the Role of Government 723
Module 52 Defining Profit 530 Module 74 Introduction to Externalities 724
Module 53 Profit Maximization 536 Module 75 Externalities and Public Policy 731
Module 54 The Production Function 542 Module 76 Public Goods 743
Module 55 Firm Costs 548 Module 77 Public Policy to Promote Competition 754
Module 56 Long-Run Costs and Economies of Scale 559 Module 78 Income Inequality and Income Distribution 761
Module 57 Introduction to Market Structure 567 Appendix Enrichment Modules 781
Module 79 The Economics of Information 782
Section 11 Module 80 Indifference Curves and Consumer Choice 787
Market Structures: Perfect Competition
and Monopoly 583 Solutions to AP Review Questions S-1
Module 58 Introduction to Perfect Competition 584 Glossary G-1
Module 59 Graphing Perfect Competition 590 Index I-1
Module 60 Long-Run Outcomes in Perfect Competition 599
BRIEF CONTENTS ix ix