Titlebook: Microeconomics; A Fresh Start Peter Dorman Textbook 2014 Springer-Verlag GmbH Germany, part of Springer Nature 2014 Economics.Introductory.

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Markets and Human Well-Beingto explain economic outcomes or predict how future events may alter the fortunes of individuals and groups tied to the economic system. This is economics as plumbing or dentistry—no values to speak of, just technique. But the great interest most of us have in economic issues is not just technical. W

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Firmseristic they have in common. This may be true, yet one could just as well call them corporate economies, for their large-scale business organization is arguably no less important. These are the engines of productivity, and they also define the landscapes of wealth and economic power.

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Governmentbut governments are also major economic players in their own right. They own and operate businesses and generate and spend vast amounts of income; in fact, in every economy the government (pulling together all its levels and branches) is by far the largest single economic entity.

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The Theory of Demandrs. Producing the right goods in the right amounts, with the characteristics consumers desire, is what an efficient economy should be doing as much of the time as possible. Clearly, in order to translate this broad objective into specific policies we require a theory of the consumers themselves: wha

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Monopoly Powere for their advantage, but their choices have all been about themselves—how to produce more efficiently, what to purchase, and so on. Now we take the next step and consider situations in which competitors act strategically to dominate or exploit others. We will do this using two models, one portrayi

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