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    <subfield code="a">Modern Microeconomics</subfield>
    <subfield code="b">Theory and applications</subfield>
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    <subfield code="a">Ed 19.</subfield>
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    <subfield code="a">New Delhi</subfield>
    <subfield code="b">S Chand And Company Limited</subfield>
    <subfield code="c">2019</subfield>
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    <subfield code="a">This book is designed as the updated syllabus of B.A.(Hons.) Economics and B.Com. (Hons.) of the universities. Also added various topics of UGC new syllabi of B.A. (Hons.) Economics, B.Com. (Hons.) and B.A. (Hons.) Business Economics under the ';Choice Based Credit System' (CBCS) which is to be adopted by all India Universities. It explains the use of graphs in economics, various types of curves and measurement of their slopes, the concept of function, both linear and power functions, the concept of derivatives and the use of differential calculus as optimising technique for solving the problems of maximisation and minimisation in economics. This book will help the students to understand various economic theories better as economics in recent years has become increasingly mathematical.
This book will also be of immense use for professional courses such as Business Economics, BBA, CA, ICWA and for the candidates preparing for all India and State level competitive examinations such as IAS, IES and allied services.</subfield>
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    <subfield code="a">Contents

PART I THE SCOPE AND METHODOLOGY OF ECONOMICS 1	

Scarcity and Choice  3
Chapter 2 Production Possibility Curve Choice and Opportunity Cost   18
Chapter 3 The Scope of Economics  28
Appendix to Chapter 3      43
Chapter 4 Science of Economics and Its Methodology  68
Chapter 5 Basic Competitive Model and Role of Price Mechanism  82
Chapter 6 Alternative Economic Systems and New MarketFriendly Economic Reforms  101	
Appendix to Chapter 21	497
A General Analysis	500
Chapter 23 Equilibrium of the Firm and Industry Under Perfect Competition	520
Appendix to Chapter 23	546
Chapter 24 Price Determination Under Perfect Competition	551
Chapter 25 Stability of Equilibrium and Cobweb Model	569
Chapter 26 Price and Output Under Monoploy	577
Chapter 26A Government Policies Towards Monopoly and Competition	611

PART II THE THEORY OF CONSUMERS BEHAVIOUR AND DEMAND  117

Chapter 7 Demand Supply and Market Equilibrium   119	
Chapter 7A Applications of Demand and Supply Analysis  143	
Chapter 7B Consumer Surplus Producer Surplus and Economic Efficiency of Perfectly Competitive Market  153	
Cardinal Utility Analysis  164	
Chapter 9 Indifference Curve Analysis of Consumers Demand  181	
Appendix A to Chapter 9	235	
Appendix B to Chapter 9	240
Chapter 10 Marshalls Cardinal Utility Analysis Vs Indifference Curve Analysis	247
Chapter 11 Some Important Applications of Indifference Curves	256	
Chapter 11A Labour Supply and Saving Decisions	268
Chapter 12 Revealed Preference Theory of Demand	285
Chapter 13 Elasticity of Demand	296
Appendix to Chapter 13	331
Chapter 14 Consumer Surplus	339

PART III THE THEORY OF PRODUCTION AND COST	355
	
Chapter 15 Factors of Production	357	
Returns to a Factor	369	
Chapter 17 Production Functions with Two Variable Factors	382
Chapter 18 Optimum Factor Combination	412
Chapter 19 Cost of Production and Cost Curves	430
Chapter 20 Elasticity of Supply	467

PART IV THEORY OF FIRM AND PRICING IN DIFFERENT MARKET STRUCTURES	475
	
Chapter 21 Main Market Forms and Concepts of Revenue	477
Chapter 27 Price Discrimination	622
Appendix to Chapter 27	640
Chapter 28 Price Under Monopolistic Competition	645
Chapter 29 Price and Output Under Oligopoly	676
Appendix to Chapter 29	699
Chapter 30 Sales Maximisation Model of Oligopoly	715
Chapter 31 Theory of Games and Competitive Stratigy	721

PART V FACTOR PRICING AND INCOME DISTRIBUTION	737
	
A General View	739
Chapter 33 Wage Determination in Competitive and Imperfectly Competitive Markets	778
Appendix to Chapter 33	808
Chapter 34 The Theory of Rent	813
Chapter 35 Alternative Theories of Interest	832
Chapter 36 The Theory of Profits	850

PART VI GENERAL EQUILIBRIUM ANALYSIS AND WELFARE ECONOMICS	859
	
Chapter 37 General Equilibrium Analysis	861	
An Introduction	878	
Chapter 39 Economic Efficiency and Pareto Optimality	883	
Chapter 40 Market Failures Externalities and Public Goods	898	
Compensation Principle	915	
Chapter 42 Social Welfare Function	923	
Chapter 43 Markets with Asymmetric Information	931	
Chapter 44 Choice Under Risk and Uncertainty	947	</subfield>
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