A central concern of economics is how society allocates its resources. Modern economies rely on two institutions to allocate: markets and governments. But how much of the allocating should be performed by markets and how much by governments? This collection of readings will help students appreciate the power of the market. It supplements theoretical explanations of how markets work with concrete examples, addresses questions about whether markets actually work well and offers evidence that supposed qmarket failuresq are not as serious as claimed. Featuring readings from Hayek, William Baumol, Harold Demsetz, Daniel Fischel and Edward Lazear, Benjamin Klein and Keith B. Leffler, Stanley J. Liebowitz and Stephen E. Margolis, and John R. Lott, Jr., this book covers key topics such as: ac Why markets are efficient allocators ac How markets foster economic growth ac Property rights ac How markets choose standards ac Asymmetric Information ac Whether firms abuse their power ac Non-excludable goods ac Monopolies The selections should be comprehended by undergraduate students who have had an introductory course in economics. This reader can also be used as a supplement for courses in intermediate microeconomics, industrial organization, business and government, law and economics, and public policy.Lookingatusedcars beingsold with about 3, 000 miles (comparing manufacturer suggestedretail price with Kelly Bluebook prices and certifiedused pricesfor thesame2006 models on September 27, 2006) Car make and model (All 2006) Mileage Transmission ... New Price (actual transaction price of new cars) Ford F150 SXTSupercab 3, 841 Automatic 8 cyl 2WDStandard $26, 300 $23, 974 Ford Focus 2x4anbsp;...
|Title||:||Readings in Applied Microeconomics|
|Publisher||:||Routledge - 2009-06-16|