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Essentials of Microeconomics Krister Ahlersten Download free books at Krister Ahlersten Microeconomics Download free ebooks at bookboon.com 2 Microeconomics © 2008 Krister Ahlersten & Ventus Publishing ApS ISBN 978-87-7681-410-6 Download free ebooks at bookboon.com 3 Microeconomics Contents Contents 1 Introduction 10 1.1 Plan 11 2 Supply, Demand, and Market Equilibrium 12 2.1 Demand 12 2.1.1 The Demand Curve 12 2.1.2 When do We Move along the Demand Curve, and When Does It Shift? 13 2.2 Supply 14 2.2.1 The Supply Curve 14 2.3 Equilibrium 16 2.3.1 How to Find the Equilibrium Point Mathematically 17 2.4 Price and Quantity Regulations 17 2.4.1 Minimum Prices 17 2.4.2 Maximum Prices 19 2.4.3 Quantity Regulations 19 3 Consumer Theory 21 3.1 Baskets of Goods and the Budget Line 22 3.2 Preferences 25 3.3 Indifference Curves 26 3.4 Indifference Maps 27 3.5 The Marginal Rate of Substitution 28 Fast-track your career Masters in Management Stand out from the crowd Designed for graduates with less than one year of full-time postgraduate work experience, London Business School’s Masters in Management will expand your Please click the advert thinking and provide you with the foundations for a successful career in business. The programme is developed in consultation with recruiters to provide you with the key skills that top employers demand. Through 11 months of full-time study, you will gain the business knowledge and capabilities to increase your career choices and stand out from the crowd. London Business School Applications are now open for entry in September 2011. Regent’s Park London NW1 4SA United Kingdom For more information visit www.london.edu/mim/ Tel +44 (0)20 7000 7573 email mim@london.edu or call +44 (0)20 7000 7573 Email mim@london.edu www.london.edu/mim/ Download free ebooks at bookboon.com 4
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