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A comprehensive analysis of the theoretical tools and real world applications of microeconomics This book covers all the significant topics in modern microeconomics: demand and the theory of the consumer, including applications and extensions; theory of the firm; production, cost and supply; partial equilibrium theory of markets; general equilibrium and welfare economics; uncertainty and information; and market imperfections, including monopoly, oligopoly, externalities and public goods. Key Features • Accessible and reader-friendly approach • Coverage of basic and modern aspects of each topic • Graphical and algebraic expositions throughout • Special emphasis on policy applications • Full treatment of corner solutions • Use of calculus throughout • Rich pedagogical elements, including examples and end-of-chapter exercises