Introductory microeconomics : Cristobal M. Pagoso, Rosemary P. Dino, George A. Villasis [and two others] . --

Includes references and index.

Preface xi -- Acknowledgement xiii -- Part one science of economics -- Chapter 1 Introduction to economic theory 3 -- Chapter 2 Demand and supply 24 -- Chapter 3 Elasticity of demand and supply 46 -- Part two theories of consumer behavior, production, cost, and profit -- Chapter 4 Theory of consumption 70 -- Chapter 5 Theory of production 92 -- Chapter 6 The theory of cost and profit 117 -- Part three market structure analysis -- Chapter 7 Pricing and output under pure competition 142 -- Chapter 8 Monopoly 161 -- Chapter 9 Monopolistic competition 178 -- Chapter 10 Oligopoly 189 -- Part four Concept of welfare and equilibrium -- Chapter 11 Welfare and equilibrium 212 -- References 231 -- Index 233 --

"This textbook is designed for undergraduate courses in basic microeconomics, economic analysis or the theory of price and output determination, value and distribution. The primary purpose of the book is to present the basic fundamentals of price theory and economic analysis and to contribute to the reader's economic literacy regarding this matter. A corollary purpose is to illustrate how the fundamentals of pricing can be applied to decision-making problems that affect the students, consumers, and firms. The first part of the book focuses on the importance of microeconomic theory and the interaction between supply and demand. Theory is the systematic description of reality. It helps the students and the readers establish generalizations and casual relationships. The theory of supply and demand, for instance, would guide the readers to understand the effects of changes in supply and demand, shortages, and surpluses on prices." --