A Primer on Microeconomics, Second Edition, Volume II

<b>This two-volume text represents a common sense approach to basic microeconomics.</b> <p>Economics, far from being the dismal science, offers us valuable lessons that can be applied to our everyday experiences. At its heart, economics is the scientific study of choice and a study of economic principles allows us to achieve a more informed understanding of how we make our choices; whether these choices occur in our everyday life or in our work environment.</p> <p>Volume Two, <i>Competition and Constraints</i>, focuses on understanding how markets may operate; profit maximization; how real-world concerns may reduce efficiency; what corrective actions may be taken to prevent market failure and the implications of those actions. The goal is to provide a concise readable primer that extends the fundamentals of microeconomic theory to consider practical economic issues.</p>