banner
May 30, 2020
507 Views
0 1

MICROECONOMICS – II BY D.N. DWIVEDI FREE PDF DOWNLOAD

Written by
banner

MICROECONOMICS – II BY D.N. DWIVEDI FREE PDF DOWNLOAD AT FILESNET BOOKS.

DOWNLOAD MICROECONOMICS – I BY D.N. DWIVEDI FREE PDF AT FILESNET BOOKS.

Table of contents :
Cover
Syllabus
Contents
Preface
About the Author
Part I: Theory of Firm:
Determination of Price and Output
Chapter 1: The Objectives of Business
Firms and Their Market Powers
The Objectives of Business Firms
Profit Maximization as Business Objective
Profit-Maximization Conditions
Numerical Illustration
Graphical Instruction
Controversy on Profit-Maximization Objective
Alternative Objectives of Business Firms
Conclusion
The Market Structure and Power of Firms
Perfect Competition
Imperfect Competition
Monopoly
A Prelude to the Theory of Firm
Review Questions and Exercises
Endnotes
Further Readings
Chapter 2: Price and Output
Determination Under Perfect Competition
Characteristics of Perfect Competition
Perfect versus Pure Competition
Role of a Firm in a Perfectly Competitive Market
What are the Firm’s Options
Short-Run Equilibrium of the Firm
Assumptions
Does a Firm Always Make Profit in the Short-run?
Shut-down or Close-down Point
Derivation of Supply Curve: A Digression
Derivation of Firm’s Supply Curve
Derivation of Industry Supply Curve
Short-Run Equilibrium of Industry and Firm
Link Between Short-run Equilibrium of the Industry and the Firm
Long-Run Equilibrium of the Firm and Industry
Equilibrium of the Firm in the Long-run
Equilibrium of Industry
Long-Run Supply Curve of a Competitive Industry
Constant Cost Industry
Increasing Cost Industry
Decreasing Cost Industry
Whether Decreasing Cost
Conclusion
Review Questions and Exercises
Endnotes
Further Readings
Chapter 3: Price and Output Determination Under
Monopoly
Introduction
Monopoly and Sources of Monopoly Power
Definition and Features
Sources and Kinds of Monopolies
Cost and Revenue Curves Under Monopoly
AR and MR Curves under Monopoly
Short-Run Equilibrium of the Monopoly: Price and
Output Determination
Monopoly Equilibrium by Total Revenue–Total Cost Approach
Monopoly Equilibrium by MR–MC Approach
Algebra of Profit Maximization: A Numerical Illustration
Does a Monopoly Firm always Make Pure Profit?
Profit Maximization by Using MC and Price Elasticity
No Supply Curve Under Monopoly: A Digression
Monopoly Equilibrium in the Long Run
Capacity Utilization Under Monopoly
Equilibrium of a Multi-Plant Monopoly
The Long-run Adjustments
Price Discrimination Under Monopoly
Price Discrimination
Necessary Conditions for Price Discrimination
Degrees of Price Discrimination
Is Price Discrimination Desirable?
The Gain to Monopolist from Price Discrimination
Monopoly vs. Perfect Competition
Comparison of Long-run Price and Output
The Deadweight Loss under Monopoly
Some Other Monopoly-Related Issues
Incidence of Taxes and Effect of Subsidy Under Monopoly
Peak-Load Pricing by a Monopoly
Government Regulation of Monopoly Prices
Measures of Monopoly Power
Measures of Monopoly Power
Appendix
The Third-Degree Price Discrimination: An Algebraic Solution
Review Questions and Exercises
Endnotes
Further
Readings
Chapter 4: Price and Output
Determination Under Monopolistic Competition
Introduction
Monopolistic Competition: Definition and
Characteristics
Definition of Monopolistic Competition
Characteristics of Monopolistic Competition
Chamberlin’s Theory of Monopolistic Competition
Basic Elements of Chamberlin’s Theory
Product Differentiation and Firm’s Perceived Demand Curve
Selling Costs and Firm’s Cost Structure
Concept of Industry and Product Groups
Firm’s Equilibrium Under Monopolistic Competition
Assumptions
Short-run Equilibrium of the Firm
Long-run Equilibrium of the Firm
Excess Capacity Under Monopolistic Competition
Ideal Output and Excess Capacity
Non-price Competition and Excess Capacity
Selling Cost and Firm’s Equilibrium:
Non-Price Competition
Individual Equilibrium with Selling Cost
Group Equilibrium
Monopolistic Competition Versus Perfect Competition:
A Comparison
Criticism of Chamberlin’s Theory of Monopolistic
Competition
Appendix
Long-run Equilibrium of Firms Under Monopolistic Competition
Model I: Long-run Equilibrium with Free Entry of New Firms
Model II: Long-run Equilibrium with Price Competition
Model III: Long-run Equilibrium with Free Entry and Price Competition
Review Questions and Exercises
Endnotes
Further Readings
Chapter 5: Price and Output
Determine Oligopoly
Introduction
Oligopoly: A Market of Few Sellers
Definition of Oligopoly
Factors Causing Oligopoly
Features of Oligopoly
The Oligopoly Models: An Overview
Duopoly Models of Oligopoly
Cournot’s Duopoly Model
Bertrand’s Duopoly Model
Edgeworth’s Duopoly Model
Stackelberg’s Leadership Model
Oligopoly Models
Non-Collusive Models of Oligopoly
Sweezy’s Model of Oligopoly: Kinked-Demand Curve Model
Collusive Model of Oligopoly
What is a Cartel Form of Collusion?
Price Leadership Models
Price Leadership by a Low-Cost Firm
Price Leadership by the Dominant Firm
The Barometric Price Leadership
Baumol’s Theory of Sales Maximization:
An Alternative Theory
Baumol’s Model without Advertising
Baumol’s Model with Advertising
The Game Theory
The Nature of the Problem: Prisoners’ Dilemma
Application of Game Theory to Oligopolistic Strategy
Concluding Remarks
Review Questions and Exercises
Endnotes
Further Readings
Part II: Factor Market and Factor
Pricing
Chapter 6: The Factor Market: Factor
Demand and Supply
Introduction
The Theory of Distribution and Factor Pricing: An
Overview
Peculiarities of Factor Demand and Supply
Development of Theories of Factor Pricing
Factor Demand: Why a Factor is Demanded
Factor Demand is a Derived Demand
Marginal Revenue Productivity: The Basic Determinant of Factor Demand
Marginal Productivity and Factor Demand
Factor Supply: Supply of Labour
Derivation of Individual Labour Supply Curve
Market Labour Supply Curve
Determination of Market Wage Rate: A Simple Theory
Shift in Factor Market Equilibrium and its Stability
Review Questions and Exercises
Endnotes
Further Readings
Chapter 7:
Wage Determination Under Perfect Competition
Introduction
Wage Determination in a Perfectly Competitive Market
Derivation of Labour Demand Curve
Derivation of Labour Demand Curve with Two Variable Inputs
Industry Demand Curve for a Variable Factor: Labour
Determination of Market Wage Rate
Non-Homogeneous Labour and Wage Differentials
Dynamic Wage Differentials
Static Wage Differentials
Wage Differentials due to Heterogeneity of Labour
The Nature and Causes of Persisting Wage Differentials
Summary
Review Questions and Exercises
Endnotes
Further Readings
Chapter 8:
Wage and Employment Determination Under Imperfect Competition
Introduction
Wage Determination Under Product Monopoly and Perfect
Competition in Labour Market
Derivation of MRPL Curve under Product Monopoly
Exploitation of Labour by Monopoly
Wage Determination Under Product Monopoly and Factor
Monopsony
Marginal Cost of a Variable Factor (Labour)
Wages and Employment under Monopsony: Single Variable Factor (Labour)
Factor Price and Employment under Monopsony:
Two Variable Factors Case
Perfect Competition in Commodity Market and Monopoly in
Labour Market: The Case of Labour Union
Wage Determination Under Bilateral Monopoly: The Case of
Collective Bargaining
Equilibrium under Bilateral Monopoly is Indeterminate
Indeterminateness of Bilateral Monopoly
Labour Union and Monopsonistic Exploitation
Application of the Wage Determination Theory
Effects of Minimum Wage Laws in Perfectly Competitive Markets
Why is Minimum Wage Law Justified?
Minimum Wage Laws, Monopsony and Trade Unions
Review Questions and Problems
Endnotes
Further Readings
Chapter 9:
Theory of Rent
Introduction
Land as a Factor of Production
Historical Background of Rent Theory
The Ricardian Theory of Rent
Ricardian Definition of Rent
The Ricardian Theory of Rent
Criticism
Transfer Earning and Economic Rent: The Modern
Approach
Elasticity of Factor Supply and Economic Rent
Quasi-Rent: The Short-Term Earning of Fixed Factors
Graphical Illustration of Quasi-rent
Is Rent Price Determined or Price is Rent Determined?
A Classical Controversy
Modern View
Rent Controls: An Application of Rent Theory
Does This Happen in Reality?
‘Who Loses and Who Benefits?’
Review Questions and Exercises
Endnotes
Further Readings
Chapter 10:
Theories of Interest and Investment Decisions
Introduction
Capital as a Factor of Production
Some Early Thoughts on Interest Theory
Theories of Interest
Bohm-Bawerk’s Theory of Interest
Fisher’s Theory of Interest: The Time Preference Theory
Criticism
The Classical Theory of Interest
Keynes’ Criticism of Classical Theory
The Loanable Fund Theory of Interest
Classical vs Neo-Classical Theory of Interest
Criticism
Interest and Investment Decisions
The Time Value of Money
Present Value and Investment Decisions
NPV and Investment Decision
IRR and Investment Decision
IRRs vs Present Value
Risk, Uncertainty and Investment Decisions
Risk-Adjusted Discount Rate Approach
Properties
The Mean–Standard Deviation Method
The Finite-Horizon Method
Drawback
The Probability Theory Approach
Review Questions and Exercises
Endnotes
Further Readings
Chapter 11:
Theories of Profit
Introduction
Meaning of Pure Profit
Profit Theories: What are the Sources of Profits?
Walker’s Theory of Profit: Profit Is Rent of Ability
Clark’s Theory of Profit: Profit Is Reward for Dynamic
Entrepreneurship
Hawley’s Risk Theory of Profit: Profit Is Reward for Risk Bearing
Knight’s Theory of Profit: Profit Is a Return to Uncertainty Bearing
Schumpeter’s Innovation Theory of Profit: Profit Is Reward for
Innovations
Does Profit Enter the Cost of Production?
Review Questions and Exercises
Endnotes
Further Readings
Chapter 12: Product Exhaustion
Theorem
Introduction
The Adding-Up Problem
Euler’s Theorem
The Clark–Wicksteed–Walras Theorem
Change in Relative Factor Shares and Income Distribution
The Elasticity of Factor Substitution and Relative Factor Shares
Technological Progress and Income Distribution
Neutral Technological Progress
Capital Deepening
Labour Deepening
Review Questions and Exercises
Endnotes
Further Readings
Part III: General Equilibrium and
Welfare Economics
Chapter 13:
General Equilibrium Analysis
Introduction
Interrelationship and Interdependence of Markets
Interrelationship between the Markets
Interdependence of Markets
The Conditions of Static General Equilibrium
The Condition for Consumers’ General Equilibrium
The Condition for Production General Equilibrium
The Condition for Producers’ General Equilibrium
The Condition for Factor Owners’ General Equilibrium
General Equilibrium in Exchange
Edgeworth Box Diagram
The Condition for General Equilibrium in Exchange
Efficient Allocation of Goods
General Equilibrium in Production
The Condition for General Equilibrium in Production
Producer’s Equilibrium in a Competitive Input Market
The Production Possibility Frontier
The Slope of PPF and Marginal Rate of Transformation (MRT)
General Equilibrium in Competitive Product Market
Review Questions and Exercises
Endnote
Further Readings
Chapter 14:
Welfare Economics: Pareto Optimality
Introduction
Definitions and Nature of Welfare Economics
Definition of Welfare Economics
Is Welfare Economics a Positive or a Normative Science?
The Concept and Measurement of Social Welfare
Some Early Concepts of Welfare
Pareto’s Concept of Welfare
Pareto’s Welfare Economics
Pareto Optimum: Definition
Pareto Optimality Conditions
Assumptions
Pareto Optimality in Exchange
Pareto Optimality in Production: Optimum Allocation of Factor Inputs
Optimum Distribution of Goods Between Firms:
Optimum Specialization of Firms
Summary of Pareto Optimally Conditions
Some Additional Conditions of Pareto Optimality
Total Conditions of Pareto Optimality
Perfect Competition and Pareto Optimality
Efficiency in Exchange
Efficiency in Production
Efficiency in Production and Exchange
Some Exceptions
Externalities and Pareto Optimality
Externalities in Production
External Economies in Production
External Diseconomies in Production
Externalities in Consumption
External Economies in Consumption
External Diseconomies in Consumption
Externalities of Public Goods
Indivisibility and Pareto Optimality
Conclusion
Review Questions and Exercises
Endnotes
Further Readings
Chapter 15:
New Welfare Economics
Introduction
The Kaldor–Hicks Compensation Criterion
Shortcomings of Kaldor–Hicks Criterion
The Scitovsky Double Criteria
The Bergson Criterion: The Social Welfare Function
Weakness of Bergson Criterion
Arrow’s Theorem of Democratic Group Decision
Problems in Arrow’s Theorem
Grand Utility Possibility Frontier and Welfare Maximization
Derivation of Grand Utility Possibility Frontier
Determination of the Point of Bliss: The Point of Maximum Social Welfare
The Theory of Second Best
Lipsey–Lancaster Refute the Second Best Theory
Conclusion
Review Questions and Problems
Endnotes
Chapter 16: Market Failures and
Public Goods
Introduction
Growth of Monopoly Power and Market Failure
Imperfect Market Information
Existence of Public Goods
What Are Public Goods?
Characteristics of Pure Public Goods
Public Goods and Market Failures
Externalities and Market Failure
Public Provision of Public Goods
Externalities and Their Correction
Treatment of External Costs
Treatment of External Benefits
Review Questions and Exercises
Endnotes
Further Readings
University Question Papers
Index.

Article Categories:
Uncategorized

Leave a Reply