Producers, Consumers, And Partial Equilibrium by David MandyProducers, Consumers, And Partial Equilibrium by David Mandy

Producers, Consumers, And Partial Equilibrium

byDavid Mandy

Paperback | November 4, 2016

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Producers, Consumers, and Partial Equilibriumprovides a systematic and accessible presentation of the full formal details in the core theories of producer and consumer choice under conditions of price taking; and covers the standard theories of competitive, monopoly, and oligopoly partial equilibrium among these economic actors. The book pulls together foundational content from many classic sources and organizes it in a self-contained format that rigidly adheres to optimization as the central behavioral postulate and analytical tool for economic theory.

The book maintains a sharp focus on the properties of outcomes from optimizing behavior in varying environments. These properties are the refutable hypotheses from each optimization behavioral postulate, and they form the core content of this positive economic theory. In so doing, the book presents and documents the underlying formal structure of the theory with a higher degree of integration and completeness than is typical of Ph.D. textbooks in microeconomics.

  • Includes comprehensive, focused and unified coverage of the mathematics required for the core theories of producer and consumer choice, and partial equilibrium
  • Presents a generalized envelope theorem as a key source of refutable hypotheses
  • Delineates the role of active versus inactive constraints in generating refutable hypotheses
  • Discusses convex functions in economic optimization environments
  • Presents the full formal details of core producer and consumer and producer theory in a unified and systematic manner
  • Emphasizes the refutable hypotheses resulting from behavioral postulates and the completeness (duality) of those hypotheses for the postulated behavior within microeconomics
  • Includes end-of-chapter exercises, full index, and an instructor's solutions manual
  • Includes a concordance that matches its chapters with those of major textbooks
Professor of Economics at the University of Missouri, David Mandy received his Ph.D. from the University of Illinois. He has published in Econometrica, Journal of Economic Theory, Journal of Econometrics, International Economic Review, Economica, Economics Letters, the International Journal of Industrial Organization, and the Journal o...
Title:Producers, Consumers, And Partial EquilibriumFormat:PaperbackDimensions:422 pages, 8.75 × 6.35 × 0.68 inPublished:November 4, 2016Publisher:Academic PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0128110236

ISBN - 13:9780128110232

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Table of Contents

Part 1: Optimization


Chapter 1: Properties of a Maximum

Chapter 2: Properties of a Maximum Under Active Constraint

Chapter 3: Convex Functions

Part 2: Producers


Chapter 4: Profit Maximization

Chapter 5: Duality of the Profit Maximum

Chapter 6: Cost Minimization

Chapter 7: Cost in Output Markets

Part 3: Consumers


Chapter 8: Preferences

Chapter 9: Expenditure Minimization

Chapter 10: Utility Maximization

Chapter 11: Duality of the Utility Maximum

Chapter 12: Consumer Welfare

Part 4: Partial Equilibrium


Chapter 13: Perfect Competition

Chapter 14: Monopoly

Chapter 15: Oligopoly