David K.H. Begg, Gianluigi Vernasca-Economics-McGraw Hill Higher Education (2011)

5 Consumer choice and demand decisions 91 7.7 Returns to scale 159
The firm's long-run output
5.1 Demand by a single consumer 91
5.2 Adjustment to income changes 103 decision 165
5.3 Adjustment to price changes 105
The relationship between
short-run and long-run
average costs 166
5.5 Complements and substitutes 113
Summary 167
5.6 Transfers in kind 115
Review questions 168
Summary 116
Review questions 117
8 Perfect co mpetition and pure monopoly 170
Appendix: Consumer choice
8.1 Perfect competition 171
with measurable utility 119 8.2 A perfectly competitive firm's
supply decision 172
6 Introducing supply decisions 122
8.3 Industry supply curves 176
6.1 Business organization 122
5.4 The market demand curve 113
7.1
7.8
7.9
8.4 Comparative statics for
6.2 A firm's accounts 123 a competitive industry 178
6.3 Firms and profit maximization 128
8.5 Pure monopoly: the opposite
6.4 Corporate finance and corporate limiting case 180
control 129
8.6 Profit-maximizing output for
6.5 The firm's supply decision 130 a monopolist 181
6.6 Marginal cost and marginal 8.7 Output and price under
revenue 132 monopoly and competition 185
6.7 Marginal cost and marginal 8.8 A monopoly has no supply curve 189
revenue curves 138
8.9 Monopoly and technical change 191
Summary 140
8.10 Natural monopoly 192
Review questions 141 Summary 194
7 Costs and supply 143 Review questions 195
Inputs and output: the
9 Market structure and imperfect
production function 144
competition
7.2 Production in the short run:
197
diminishing marginal returns 145
9.2 Monopolistic competition 202
7.3 Short-run costs 149
Oligopoly and interdependence 203
A firm's output decision in the
short run 154
9.4 Game theory and
interdependent decisions 206
Production in the long run 156
Reaction functions 208
Long-run total, marginal and
average costs 157
7.4
7.5
7.6
9.1 Why market structures differ 198
9.3
9.5
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