A Primer on Microeconomics, Volume II: Competition and Constraints, Second Edition


Economics, far from being the dismal science, offers us valuable lessons that can be applied to our everyday experiences. At its heart, economics is the scientific study of choice and a study of economic principles allows us to achieve a more informed understanding of how we make our choices; whether these choices occur in our everyday life or in our work environment.
This two-volume text represents a common sense approach to basic microeconomics. Volume two, Competition and Constraints, focuses on understanding how markets may operate; profit maximization; how real-world concerns may reduce efficiency; what corrective actions may be taken to prevent market failure and the implications of those actions. The goal is to provide a concise readable primer that extends the fundamentals of microeconomic theory to consider practical economic issues.

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About the Author(s)

Thomas Beveridge

Thomas M. Beveridge has been teaching students the principles of macroeconomics for over 30 years. Currently, he is an instructor of economics at Durham Technical Community College in North Carolina….

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Pub Date

September 30, 2018





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