Dominick Salvatore Schaums Outline of Microeconomics, 4th edition Schaums Outline Series 2006

352 INDEX
Decreasing cost industry 192, 208p, 210p
Decreasing returns to scale 125, 126, 143–144p,
163–164p
Demand:
ceteris paribus 14–15, 21–22p
change in 15, 20, 24–27p
elasticity of 39–43, 47–55p, 212, 238, 240,
247p, 249p
for a factor 283–285, 293–296p
individual consumer 14, 21–27p
law of 15
market 15–16, 27p
schedule of 14, 21–23p
theory 62–101
Demand curves:
derivation of individual’s 69–70, 89–90p
derivation of market 15–17, 31–35p
for a factor 283–285, 293–296p
for an inferior good 89p, 95p
imperfect competition 194–195p
individual consumer 15, 21–27p
kinked 241–242, 245, 253–255p
market 15–16, 27p
monopolistic competition 238–239, 247–249p
oligopoly 239–240, 249–250p
perfect competition 184, 195–196p
pure monopoly 212, 221–222p
Derived demand 293–294p
Diminishing marginal utility 63, 71, 73–75p
Diminishing returns, law of 119–120, 126, 129p,
158–162p
Diseconomies of scale 150–151, 162–169p
Distribution 1, 7p
Dominant strategy 272–273, 277–278p
Duopoly (see oligopoly)
Dynamics 2, 11–12p
Economic:
activity, circular flow of 1, 8–9p
efficiency 229–230p
good 1, 5p
problem 1, 6p
profit 7p
rent 286, 290, 297p
resources 1, 5–6p
systems 1, 6p
Economies of scale 150–151, 162–163p
Edgeworth box diagram 85p
Edgeworth model 240–241, 245, 250–253p
Efficiency wage theory 338, 346p
Elasticity of demand:
arc 40–41, 45, 47–48p
cross 43–44, 45, 54–56p
defined 39, 45, 47p
factors influencing 52p
income 42–43, 45, 54–55p, 68–69
Elasticity of demand: (Cont.)
point 40–41, 45, 213, 221–223p
relation to total expenditures 41–42, 48–50p, 213,
221–223p
Elasticity of technical substitution 125, 140–142p
Elasticity of supply 44, 45, 56–59p
Empirical demand curves 107, 108, 116–117p
Engel curve:
defined 68, 71
income elasticity of demand and 68, 89–91p
shapes of 68, 89–91p
Entrepreneurship 1, 5p
Envelope curve 149, 163–164p
Equalizing wage differences 285
Equilibrium:
defined 2, 3, 12p, 31–36p, 309p
demand-supply model 9–11p, 18, 31–33p
long-run 189–190, 204–205p, 206–209p
short-run 185–187, 198–204p
stable 19, 20, 32–34p
unstable 19, 20, 32–34p
Exchange 68, 84, 87p, 312, 325–326p
Expansion path 124–125, 126, 138–139p
Expansion income 105–106, 114p
Expenditure index 104, 108, 113–114p
Experience goods 336, 338, 340–341p
Explicit costs 146, 153, 155p
Exploitation:
monopolistic 289, 301p
monopsonistic 289, 304p
External economies and diseconomies 207–208p, 318,
319, 332–333p
External effect 285, 295p
Factors of production 1, 5p
Firm:
objective of 198–199, 259p
representative 184, 188
Fixed costs 146, 154, 156–158p
Free enterprise system 1, 6p
Functions 2, 3, 9–10p
Gambler 105, 114–115p
Game theory 272, 274, 276p
General equilibrium analysis:
consumption contract curve 68, 86–87p, 315, 319,
325–327p
defined 2, 3, 12p, 312, 319, 339–340p
Edgeworth box diagram 86p, 315, 319, 326–327p
of exchange 312–313, 320
of production 313–314, 320
production contract curve 315
of production and exchange 315, 320, 327–328p
transformation curve 314–315, 324–325p
and welfare economics 316, 320, 329p
Giffen good 95–96p