Microeconomic Theory

This new microeconomics text provides information on price theory, theory of markets, and income distribution theory. Stefano Zamagni focuses on political economy: theories and concepts presented and discussed within the historical framework from which they arose and took form. In addition to developing the familiar method of price determination based on supply and demand, the author critically discusses the full-cost principle to be found in oligopolistic markets. Zamagni approaches the theory of production with a thorough exposition, evaluation and comparison of the three models with which students need to be conversant. An extensive and comprehensive analysis of oligopolistic behaviour is included.