Managerial Economics: Theory and Practice
WSGPR 7/7/03 4:33 PM Page i
Managerial Economics: Theory and Practice
WSGPR 7/7/03 4:33 PM Page ii
WSGPR 7/7/03 4:33 PM Page iii
Managerial Economics: Theory and Practice
Edited by
Thomas J. Webster
Department of Finance & Economics Lubin School of Business Pace University
Study Guide
Amsterdam Boston Heidelberg London New York Oxford San Diego San Francisco Singapore Sydney Tokyo
Paris
WSGPR 7/7/03 4:33 PM Page iv
WSGPR 7/7/03 4:33 PM Page v
Table of Contents
Preface to the Student
xi
1
Introduction
Overview 1 Multiple choice questions 3 Shorter problems 9 Longer problems 10 Answers to multiple choice questions 11 Solutions to shorter problems 12 Solutions to longer problems 12
2
Introduction to Mathematical Economics
Overview 15 Multiple choice questions 16 Shorter problems 22 Longer problems 23 Answers to multiple choice questions 24 Solutions to shorter problems 25 Solutions to longer problems 27 v
WSGPR 7/7/03 4:33 PM Page vi
vi
Table of Contents
3
The Essentials of Demand and Supply
Overview 31 Multiple choice questions 33 Shorter problems 40 Longer problems 41 Answers to multiple choice questions Solutions to shorter problems 43 Solutions to longer problems 44
43
4
Additional Topics in Demand Theory
Overview 47 Multiple choice questions 48 Shorter problems 55 Longer problems 56 Answers to multiple choice questions Solutions to shorter problems 59 Solutions to longer problems 60
58
5
Production
Overview 63 Multiple choice questions 65 Shorter problems 72 Longer problems 73 Answers to multiple choice questions Solutions to shorter problems 74 Solutions to longer problems 76
74
WSGPR 7/7/03 4:33 PM Page vii
Table of Contents
vii
6
Cost
Overview 79 Multiple choice questions 80 Shorter problems 87 Longer problems 89 Answers to multiple choice questions 90 Solutions to shorter problems 91 Solutions to longer problems 93
7
Profit and Revenue Maximization
Managerial Economics: Theory and Practice
WSGPR 7/7/03 4:33 PM Page ii
WSGPR 7/7/03 4:33 PM Page iii
Managerial Economics: Theory and Practice
Edited by
Thomas J. Webster
Department of Finance & Economics Lubin School of Business Pace University
Study Guide
Amsterdam Boston Heidelberg London New York Oxford San Diego San Francisco Singapore Sydney Tokyo
Paris
WSGPR 7/7/03 4:33 PM Page iv
WSGPR 7/7/03 4:33 PM Page v
Table of Contents
Preface to the Student
xi
1
Introduction
Overview 1 Multiple choice questions 3 Shorter problems 9 Longer problems 10 Answers to multiple choice questions 11 Solutions to shorter problems 12 Solutions to longer problems 12
2
Introduction to Mathematical Economics
Overview 15 Multiple choice questions 16 Shorter problems 22 Longer problems 23 Answers to multiple choice questions 24 Solutions to shorter problems 25 Solutions to longer problems 27 v
WSGPR 7/7/03 4:33 PM Page vi
vi
Table of Contents
3
The Essentials of Demand and Supply
Overview 31 Multiple choice questions 33 Shorter problems 40 Longer problems 41 Answers to multiple choice questions Solutions to shorter problems 43 Solutions to longer problems 44
43
4
Additional Topics in Demand Theory
Overview 47 Multiple choice questions 48 Shorter problems 55 Longer problems 56 Answers to multiple choice questions Solutions to shorter problems 59 Solutions to longer problems 60
58
5
Production
Overview 63 Multiple choice questions 65 Shorter problems 72 Longer problems 73 Answers to multiple choice questions Solutions to shorter problems 74 Solutions to longer problems 76
74
WSGPR 7/7/03 4:33 PM Page vii
Table of Contents
vii
6
Cost
Overview 79 Multiple choice questions 80 Shorter problems 87 Longer problems 89 Answers to multiple choice questions 90 Solutions to shorter problems 91 Solutions to longer problems 93
7
Profit and Revenue Maximization