Test Bank For Principles of Microeconomics 13th edition

PART 1: INTRODUCTION TO ECONOMICS

• The Scope and Method of Economics
• The Economic Problem: Scarcity and Choice
• Demand, Supply, and Market Equilibrium
• Demand and Supply Applications
• Elasticity

PART 2: THE MARKET SYSTEM

• Household Behavior and Consumer Choice
• The Production Process: The Behavior of Profit-Maximizing Firms
• Short-Run Costs and Output Decisions
• Long-Run Costs and Output Decisions
• Input Demand: The Labor and Land Markets
• Input Demand: The Capital Market and the Investment Decision
• General Equilibrium and the Efficiency of Perfect Competition

PART 3: MARKET IMPERFECTIONS AND THE ROLE OF GOVERNMENT

• Monopoly and Antitrust Policy
• Oligopoly
• Monopolistic Competition
• Externalities, Public Goods, and Common Resources
• Uncertainty and Asymmetric Information
• Income Distribution and Poverty
• Public Finance: The Economics of Taxation

PART 4: THE WORLD ECONOMY

• International Trade, Comparative Advantage, and Protectionism
• Economic Growth in Developing Economies

PART 5: METHODOLOGY

• Critical Thinking about Research