×
Log in to StudySoup
Get Full Access to Business - Textbook Survival Guide
Join StudySoup for FREE
Get Full Access to Business - Textbook Survival Guide

Already have an account? Login here
×
Reset your password

Textbooks / Business / Microeconomics 9

Microeconomics 9th Edition Solutions

Do I need to buy Microeconomics | 9th Edition to pass the class?

ISBN: 9780134184241

Microeconomics | 9th Edition - Solutions by Chapter

Do I need to buy this book?
1 Review

70% of students who have bought this book said that they did not need the hard copy to pass the class. Were they right? Add what you think:

Microeconomics 9th Edition Student Assesment

Damian from University of Miami said

"If I knew then what I knew now I would not have bought the book. It was over priced and My professor only used it a few times."

Textbook: Microeconomics
Edition: 9
Author: Robert Pindyck; Daniel Rubinfeld
ISBN: 9780134184241

Microeconomics was written by and is associated to the ISBN: 9780134184241. The full step-by-step solution to problem in Microeconomics were answered by , our top Business solution expert on 09/27/18, 09:50PM. Since problems from 0 chapters in Microeconomics have been answered, more than 200 students have viewed full step-by-step answer. This expansive textbook survival guide covers the following chapters: 0. This textbook survival guide was created for the textbook: Microeconomics, edition: 9.

Key Business Terms and definitions covered in this textbook
  • ability-to-pay principle

    the idea that taxes should be levied on a person according to how well that person can shoulder the burden

  • absolute advantage

    the ability to produce a good using fewer inputs than another producer

  • average variable cost

    variable cost divided by the quantity of output

  • balanced trade

    a situation in which exports equal imports

  • business cycle

    fluctuations in economic activity, such as employment and production

  • compounding

    the accumulation of a sum of money in, say, a bank account, where the interest earned remains in the account to earn additional interest in the future

  • Condorcet paradox

    the failure of majority rule to produce transitive preferences for society

  • cross-price elasticity of demand

    a measure of how much the quantity demanded of one good responds to a change in the price of another good, computed as the percentage change in quantity demanded of the first good divided by the percentage change in price of the second good

  • efficiency

    the property of society getting the most it can from its scarce resources

  • indifference curve

    a curve that shows consumption bundles that give the consumer the same level of satisfaction

  • informational efficiency

    the description of asset prices that rationally reflect all available information

  • maximin criterion

    the claim that the government should aim to maximize the well-being of the worst-off person in society

  • normative statements

    claims that attempt to prescribe how the world should be

  • prisoners’ dilemma

    a particular “game” between two captured prisoners that illustrates why cooperation is difficult to maintain even when it is mutually beneficial

  • producer price index

    a measure of the cost of a basket of goods and services bought by firms

  • progressive tax

    a tax for which highincome taxpayers pay a larger fraction of their income than do low-income taxpayers

  • rational people

    people who systematically and purposefully do the best they can to achieve their objectives

  • signaling

    an action taken by an informed party to reveal private information to an uninformed party

  • social insurance

    government policy aimed at protecting people against the risk of adverse events

  • structural unemployment

    unemployment that results because the number of jobs available in some labor markets is insufficient to provide a job for everyone who wants one