Test Bank for Intermediate Microeconomics A Modern Approach 9th Edition Hal R Varian Download

Product details:

ISBN-10 ‏ : ‎ 0393123979
ISBN-13 ‏ : ‎ 978-0393123975
Author: Hal R. Varian

Rigorous and modern―the #1 text for Intermediate Microeconomics from the chief economist at Google.

This best-selling text is still the most modern presentation of the subject. The Varian approach gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation.

Table contents:

1. The Market
1.1 Constructing a Model
1.2 Optimization and Equilibrium
1.3 The Demand Curve
1.4 The Supply Curve
1.5 Market Equilibrium
1.6 Comparative Statics
1.7 Other Ways to Allocate Apartments
The Discriminating Monopolist
The Ordinary Monopolist
Rent Control
1.8 Which Way Is Best?
1.9 Pareto Efficiency
1.10 Comparing Ways to Allocate Apartments
1.11 Equilibrium in the Long Run
Summary
Review Questions
2. Budget Constraint
2.1 The Budget Constraint
2.2 Two Goods Are Often Enough
2.3 Properties of the Budget Set
2.4 How the Budget Line Changes
2.5 The Numeraire
2.6 Taxes, Subsidies, and Rationing
Example: The Food Stamp Program
2.7 Budget Line Changes
Summary
Review Questions
3. Preferences
3.1 Consumer Preferences
3.2 Assumptions about Preferences
3.3 Indifference Curves
3.4 Examples of Preferences
Perfect Substitutes
Perfect Complements
Bads
Neutrals
Satiation
Discrete Goods
3.5 Well-Behaved Preferences
3.6 The Marginal Rate of Substitution
3.7 Other Interpretations of the MRS
3.8 Behavior of the MRS
Summary
Review Questions
4. Utility
4.1 Cardinal Utility
4.2 Constructing a Utility Function
4.3 Some Examples of Utility Functions
Example: Indifference Curves from Utility
Perfect Substitutes
Perfect Complements
Quasilinear Preferences
Cobb-Douglas Preferences
4.4 Marginal Utility
4.5 Marginal Utility and MRS
4.6 Utility for Commuting
Summary
Review Questions
Appendix
Example: Cobb-Douglas Preferences
5. Choice
5.1 Optimal Choice
5.2 Consumer Demand
5.3 Some Examples
Perfect Substitutes
Perfect Complements
Neutrals and Bads
Discrete Goods
Concave Preferences
Cobb-Douglas Preferences
5.4 Estimating Utility Functions
5.5 Implications of the MRS Condition
5.6 Choosing Taxes
Summary
Review Questions
Appendix
Example: Cobb-Douglas Demand Functions
6. Demand
6.1 Normal and Inferior Goods
6.2 Income Offer Curves and Engel Curves
6.3 Some Examples
Perfect Substitutes
Perfect Complements
Cobb-Douglas Preferences
Homothetic Preferences
Quasilinear Preferences
6.4 Ordinary Goods and Giffen Goods
6.5 The Price Offer Curve and the Demand Curve
6.6 Some Examples
Perfect Substitutes
Perfect Complements
A Discrete Good
6.7 Substitutes and Complements
6.8 The Inverse Demand Function
Summary
Review Questions
Appendix
7. Revealed Preference
7.1 The Idea of Revealed Preference
7.2 From Revealed Preference to Preference
7.3 Recovering Preferences
7.4 The Weak Axiom of Revealed Preference
7.5 Checking WARP
7.6 The Strong Axiom of Revealed Preference
7.7 How to Check SARP
7.8 Index Numbers
7.9 Price Indices
EXAMPLE: Indexing Social Security Payments
Summary
Review Questions
8. Slutsky Equation
8.1 The Substitution Effect
EXAMPLE: Calculating the Substitution Effect
8.2 The Income Effect
EXAMPLE: Calculating the Income Effect
8.3 Sign of the Substitution Effect
8.4 The Total Change in Demand
8.5 Rates of Change
8.6 The Law of Demand
8.7 Examples of Income and Substitution Effects
Example: Rebating a Tax
Example: Voluntary Real Time Pricing
8.8 Another Substitution Effect
8.9 Compensated Demand Curves
Summary
Review Questions
Appendix
Example: Rebating a Small Tax
9. Buying and Selling
9.1 Net and Gross Demands
9.2 The Budget Constraint
9.3 Changing the Endowment
9.4 Price Changes
9.5 Offer Curves and Demand Curves
9.6 The Slutsky Equation Revisited
9.7 Use of the Slutsky Equation
Example: Calculating the Endowment Income Effect
9.8 Labor Supply
The Budget Constraint
9.9 Comparative Statics of Labor Supply
Example: Overtime and the Supply of Labor
Summary
Review Questions
Appendix
10. Intertemporal Choice
10.1 The Budget Constraint
10.2 Preferences for Consumption
10.3 Comparative Statics
10.4 The Slutsky Equation and Intertemporal Choice
10.5 Inflation
10.6 Present Value: A Closer Look
10.7 Analyzing Present Value for Several Periods
10.8 Use of Present Value
Example: Valuing a Stream of Payments
Example: The True Cost of a Credit Card
Example: Extending Copyright
10.9 Bonds
Example: Installment Loans
10.10 Taxes
EXAMPLE: Scholarships and Savings
10.11 Choice of the Interest Rate
Summary
Review Questions
11. Asset Markets
11.1 Rates of Return
11.2 Arbitrage and Present Value
11.3 Adjustments for Differences among Assets
11.4 Assets with Consumption Returns
11.5 Taxation of Asset Returns
11.6 Market Bubbles
11.7 Applications
Depletable Resources
When to Cut a Forest
Example: Gasoline Prices during the Gulf War
11.8 Financial Institutions
Summary
Review Questions
Appendix
12. Uncertainty
12.1 Contingent Consumption
Example: Catastrophe Bonds
12.2 Utility Functions and Probabilities
Example: Some Examples of Utility Functions
12.3 Expected Utility
12.4 Why Expected Utility Is Reasonable
12.5 Risk Aversion
Example: The Demand for Insurance
12.6 Diversification
12.7 Risk Spreading
12.8 Role of the Stock Market
Summary
Review Questions
Appendix
Example: The Effect of Taxation on Investment in Risky Assets
13. Risky Assets
13.1 Mean-Variance Utility
13.2 Measuring Risk
13.3 Counterparty Risk
13.4 Equilibrium in a Market for Risky Assets
13.5 How Returns Adjust
EXAMPLE: Value at Risk
EXAMPLE: Ranking Mutual Funds
Summary
Review Questions
14. Consumer’s Surplus
14.1 Demand for a Discrete Good
14.2 Constructing Utility from Demand
14.3 Other Interpretations of Consumer’s Surplus
14.4 From Consumer’s Surplus to Consumers’ Surplus
14.5 Approximating a Continuous Demand
14.6 Quasilinear Utility
14.7 Interpreting the Change in Consumer’s Surplus
Example: The Change in Consumer’s Surplus
14.8 Compensating and Equivalent Variation
Example: Compensating and Equivalent Variations
Example: Compensating and Equivalent Variation for Quasilinear Preferences
14.9 Producer’s Surplus
14.10 Benefit-Cost Analysis
Rationing
14.11 Calculating Gains and Losses
Summary
Review Questions
Appendix
Example: A Few Demand Functions
Example: CV, EV, and Consumer’s Surplus
15. Market Demand
15.1 From Individual to Market Demand
15.2 The Inverse Demand Function
Example: Adding Up “Linear” Demand Curves
15.3 Discrete Goods
15.4 The Extensive and the Intensive Margin
15.5 Elasticity
Example: The Elasticity of a Linear Demand Curve
15.6 Elasticity and Demand
15.7 Elasticity and Revenue
Example: Strikes and Profits
15.8 Constant Elasticity Demands
15.9 Elasticity and Marginal Revenue
Example: Setting a Price
15.10 Marginal Revenue Curves
15.11 Income Elasticity
Summary
Review Questions
Appendix
Example: The Laffer Curve
Example: Another Expression for Elasticity
16. Equilibrium
16.1 Supply
16.2 Market Equilibrium
16.3 Two Special Cases
16.4 Inverse Demand and Supply Curves
Example: Equilibrium with Linear Curves
16.5 Comparative Statics
Example: Shifting Both Curves
16.6 Taxes
Example: Taxation with Linear Demand and Supply
16.7 Passing Along a Tax
16.8 The Deadweight Loss of a Tax
Example: The Market for Loans
Example: Food Subsidies
Example: Subsidies in Iraq
16.9 Pareto Efficiency
EXAMPLE: Waiting in Line
Summary
Review Questions
17. Measurement
17.1 Summarize data
Example: Simpson’s paradox
17.2 Test
17.3 Estimating demand using experimental data
17.4 Effect of treatment
17.5 Estimating demand using observational data
Functional form
Statistical model
Estimation
17.6 Identification
17.7 What can go wrong?
17.8 Policy evaluation
Example: Crime and police
Summary
Review Questions
18. Auctions
18.1 Classification of Auctions
Bidding Rules
18.2 Auction Design
Example: Goethe’s auction
18.3 Other Auction Forms
Example: Late Bidding on eBay
18.4 Position Auctions
Two Bidders
More Than Two Bidders
Quality Scores
18.5 Should you advertise on your brand?
18.6 Auction revenue and number of bidders
18.7 Problems with Auctions
Example: Taking Bids Off the Wall
18.8 The Winner’s Curse
18.9 Stable Marriage Problem
18.10 Mechanism Design
Summary
Review Questions
19. Technology
19.1 Inputs and Outputs
19.2 Describing Technological Constraints
19.3 Examples of Technology
Fixed Proportions
Perfect Substitutes
Cobb-Douglas
19.4 Properties of Technology
19.5 The Marginal Product
19.6 The Technical Rate of Substitution
19.7 Diminishing Marginal Product
19.8 Diminishing Technical Rate of Substitution
19.9 The Long Run and the Short Run
19.10 Returns to Scale
Example: Datacenters
Example: Copy Exactly!
Summary
Review Questions
20. Profit Maximization
20.1 Profits
20.2 The Organization of Firms
20.3 Profits and Stock Market Value
20.4 The Boundaries of the Firm
20.5 Fixed and Variable Factors
20.6 Short-Run Profit Maximization
20.7 Comparative Statics
20.8 Profit Maximization in the Long Run
20.9 Inverse Factor Demand Curves
20.10 Profit Maximization and Returns to Scale
20.11 Revealed Profitability
Example: How Do Farmers React to Price Supports?
20.12 Cost Minimization
Summary
Review Questions
Appendix
21. Cost Minimization
21.1 Cost Minimization
Example: Minimizing Costs for Specific Technologies
21.2 Revealed Cost Minimization
21.3 Returns to Scale and the Cost Function
21.4 Long-Run and Short-Run Costs
21.5 Fixed and Quasi-Fixed Costs
21.6 Sunk Costs
Summary
Review Questions
Appendix
22. Cost Curves
22.1 Average Costs
22.2 Marginal Costs
22.3 Marginal Costs and Variable Costs
Example: Specific Cost Curves
Example: Marginal Cost Curves for Two Plants
22.4 Cost Curves for Online Auctions
22.5 Long-Run Costs
22.6 Discrete Levels of Plant Size
22.7 Long-Run Marginal Costs
Summary
Review Questions
Appendix
23. Firm Supply
23.1 Market Environments
23.2 Pure Competition
23.3 The Supply Decision of a Competitive Firm
23.4 An Exception
23.5 Another Exception
Example: Pricing Operating Systems
23.6 The Inverse Supply Function
23.7 Profits and Producer’s Surplus
Example: The Supply Curve for a Specific Cost Function
23.8 The Long-Run Supply Curve of a Firm
23.9 Long-Run Constant Average Costs
Summary
Review Questions
Appendix
24. Industry Supply
24.1 Short-Run Industry Supply
24.2 Industry Equilibrium in the Short Run
24.3 Industry Equilibrium in the Long Run
24.4 The Long-Run Supply Curve
Example: Taxation in the Long Run and in the Short Run
24.5 The Meaning of Zero Profits
24.6 Fixed Factors and Economic Rent
Example: Taxi Licenses in New York City
24.7 Economic Rent
24.8 Rental Rates and Prices
Example: Liquor Licenses
24.9 The Politics of Rent
Example: Farming the Government
24.10 Energy Policy
Two-Tiered Oil Pricing
Price Controls
The Entitlement Program
24.11 Carbon Tax Versus Cap and Trade
Optimal Production of Emissions
A Carbon Tax
Cap and Trade
Summary
Review Questions
25. Monopoly
25.1 Maximizing Profits
25.2 Linear Demand Curve and Monopoly
25.3 Markup Pricing
Example: The Impact of Taxes on a Monopolist
25.4 Inefficiency of Monopoly
25.5 Deadweight Loss of Monopoly
Example: The Optimal Life of a Patent
Example: Patent Thickets
Example: Managing the Supply of Potatoes
25.6 Natural Monopoly
25.7 What Causes Monopolies?
Example: Diamonds Are Forever
Example: Pooling in Auction Markets
Example: Price Fixing in Computer Memory Markets
Summary
Review Questions
Appendix
26. Monopoly Behavior
26.1 Price Discrimination
26.2 First-Degree Price Discrimination
Example: First-degree Price Discrimination in Practice
26.3 Second-Degree Price Discrimination
Example: Price Discrimination in Airfares
Example: Prescription Drug Prices
26.4 Third-Degree Price Discrimination
Example: Linear Demand Curves
Example: Calculating Optimal Price Discrimination
Example: Price Discrimination in Academic Journals
26.5 Bundling
Example: Software Suites
26.6 Two-Part Tariffs
26.7 Monopolistic Competition
26.8 A Location Model of Product Differentiation
26.9 Product Differentiation
26.10 More Vendors
Summary
Review Questions
27. Factor Markets
27.1 Monopoly in the Output Market
27.2 Monopsony
Example: The Minimum Wage
27.3 Upstream and Downstream Monopolies
Summary
Review Questions
Appendix
28. Oligopoly
28.1 Choosing a Strategy
Example: Pricing Matching
28.2 Quantity Leadership
The Follower’s Problem
The Leader’s Problem
28.3 Price Leadership
28.4 Comparing Price Leadership and Quantity Leadership
28.5 Simultaneous Quantity Setting
28.6 An Example of Cournot Equilibrium
28.7 Adjustment to Equilibrium
28.8 Many Firms in Cournot Equilibrium
28.9 Simultaneous Price Setting
28.10 Collusion
28.11 Punishment Strategies
Example: Price Matching and Competition
Example: Voluntary Export Restraints
28.12 Comparison of the Solutions
Summary
Review Questions
29. Game Theory
29.1 The Payoff Matrix of a Game
29.2 Nash Equilibrium
29.3 Mixed Strategies
Example: Rock Paper Scissors
29.4 The Prisoner’s Dilemma
29.5 Repeated Games
29.6 Enforcing a Cartel
Example: Tit for Tat in Airline Pricing
29.7 Sequential Games
29.8 A Game of Entry Deterrence
Summary
Review Questions
30. Game Applications
30.1 Best Response Curves
30.2 Mixed Strategies
30.3 Games of Coordination
Battle of the Sexes
Prisoner’s Dilemma
Assurance Games
Chicken
How to Coordinate
30.4 Games of Competition
30.5 Games of Coexistence
30.6 Games of Commitment
The Frog and the Scorpion
The Kindly Kidnapper
When Strength Is Weakness
Savings and Social Security
Example: Dynamic inefficiency of price discrimination
Hold Up
The Ultimatum Game
30.7 Bargaining
The Ultimatum Game
Summary
Review Questions
31. Behavioral Economics
31.1 Framing Effects in Consumer Choice
The Disease Dilemma
Anchoring Effects
Bracketing
Too Much Choice
Constructed Preferences
31.2 Uncertainty
Law of Small Numbers
Asset Integration and Loss Aversion
31.3 Time
Discounting
Self-control
Example: Overconfidence
31.4 Strategic Interaction and Social Norms
Ultimatum Game
Fairness
31.5 Assessment of Behavioral Economics
Summary
Review Questions
32. Exchange
32.1 The Edgeworth Box
32.2 Trade
32.3 Pareto Efficient Allocations
32.4 Market Trade
32.5 The Algebra of Equilibrium
32.6 Walras’ Law
32.7 Relative Prices
Example: An Algebraic Example of Equilibrium
32.8 The Existence of Equilibrium
32.9 Equilibrium and Efficiency
32.10 The Algebra of Efficiency
Example: Monopoly in the Edgeworth Box
32.11 Efficiency and Equilibrium
32.12 Implications of the First Welfare Theorem
32.13 Implications of the Second Welfare Theorem
Summary
Review Questions
Appendix
33. Production
33.1 The Robinson Crusoe Economy
33.2 Crusoe, Inc.
33.3 The Firm
33.4 Robinson’s Problem
33.5 Putting Them Together
33.6 Different Technologies
33.7 Production and the First Welfare Theorem
33.8 Production and the Second Welfare Theorem
33.9 Production Possibilities
33.10 Comparative Advantage
33.11 Pareto Efficiency
33.12 Castaways, Inc.
33.13 Robinson and Friday as Consumers
33.14 Decentralized Resource Allocation
Summary
Review Questions
Appendix
34. Welfare
34.1 Aggregation of Preferences
34.2 Social Welfare Functions
34.3 Welfare Maximization
34.4 Individualistic Social Welfare Functions
34.5 Fair Allocations
34.6 Envy and Equity
Summary
Review Questions
Appendix
35. Externalities
35.1 Smokers and Nonsmokers
35.2 Quasilinear Preferences and the Coase Theorem
35.3 Production Externalities
Example: Pollution Vouchers
35.4 Interpretation of the Conditions
35.5 Market Signals
Example: Bees and Almonds
35.6 The Tragedy of the Commons
Example: Overfishing
Example: New England Lobsters
35.7 Automobile Pollution
Summary
Review Questions
36. Information Technology
36.1 Systems Competition
36.2 The Problem of Complements
Relationships among Complementors
Example: Apple’s iPod and iTunes
Example: Who Makes an iPod?
Example: AdWords and AdSense
36.3 Lock-In
A Model of Competition with Switching Costs
Example: Online Bill Payment
Example: Number Portability on Cell Phones
36.4 Network Externalities
36.5 Markets with Network Externalities
36.6 Market Dynamics
Example: Network Externalities in Computer Software
36.7 Implications of Network Externalities
Example: The Yellow Pages
Example: Radio Ads
36.8 Two-sided Markets
A Model of Two-sided Markets
36.9 Rights Management
Example: Video Rental
36.10 Sharing Intellectual Property
Example: Online Two-sided Markets
Summary
Review Questions
37. Public Goods
37.1 When to Provide a Public Good?
37.2 Private Provision of the Public Good
37.3 Free Riding
37.4 Different Levels of the Public Good
37.5 Quasilinear Preferences and Public Goods
EXAMPLE: Pollution Revisited
37.6 The Free Rider Problem
37.7 Comparison to Private Goods
37.8 Voting
Example: Agenda Manipulation
37.9 The Vickrey-Clarke-Groves Mechanism
Groves Mechanism
The VCG Mechanism
37.10 Examples of VCG
Vickrey Auction
Clarke-Groves Mechanism
37.11 Problems with the VCG
Summary
Review Questions
Appendix
38. Asymmetric Information
38.1 The Market for Lemons
38.2 Quality Choice
Choosing the Quality
38.3 Adverse Selection
38.4 Moral Hazard
38.5 Moral Hazard and Adverse Selection
38.6 Signaling
Example: The Sheepskin Effect
38.7 Incentives
Example: Voting Rights in the Corporation
Example: Chinese Economic Reforms
38.8 Asymmetric Information
Example: Monitoring Costs
Example: The Grameen Bank
Summary
Review Questions
Mathematical Appendix
A.1 Functions
A.2 Graphs
A.3 Properties of Functions
A.4 Inverse Functions
A.5 Equations and Identities
A.6 Linear Functions
A.7 Changes and Rates of Change
A.8 Slopes and Intercepts
A.9 Absolute Values and Logarithms
A.10 Derivatives
A.11 Second Derivatives
A.12 The Product Rule and the Chain Rule
A.13 Partial Derivatives
A.14 Optimization
A.15 Constrained Optimization
Answers
Index

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Test Bank for Intermediate Microeconomics A Modern Approach 9th Edition Hal R Varian Download

Test Bank for Intermediate Microeconomics A Modern Approach 9th Edition Hal R Varian Download

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