Instructor’s Manual Duncan n n n
M. Holthausen
n
North Carolina State University
n n n
Microeconomics
7th edition
n
Robert S. Pindyck Da n n n
niel L. Rubinfeld
n n
PrenticenHall
UppernSaddlenRiver, nNewnJersey n07458
Newn York n Boston n San n Francisco
London n Toronto n Sydney n Tokyo n Singaporen Madrid n Mexi
co n City n Munich n Parisn Capen Town n Hongn Kongn Montreal
www.elsolucionario.net
,ThisnworknisnprotectednbynUnitednStatesncopyrightnlawsnandnisnprovidednsolel
ynfornthenusenofninstructorsninnteachingntheirncoursesnandnassessingnstudentn
learning.n Disseminationnornsalenofnanynpartnofnthisnworkn(includingnonnthenW
orldnWidenWeb)nwillndestroynthenintegritynofnthenworknandnisnnotnpermitted.
Thenworknandnmaterialsnfromnitnshouldnnevernbenmadenavailablenton
studentsnexceptnbyninstructorsnusingnthenaccompanyingntextninntheirnclasses
.
Allnrecipientsnofnthisnworknarenexpectedntonabidenbynthesenrestricti
onsnandntonhonornthenintendednpedagogicalnpurposesnandnthenneedsnofnother
ninstructors nwho nrelynon nthesenmaterials.
Editor-in-Chief:n EricnSvendsen
ExecutivenEditor:n ChrisnRogers
EditorialnProjectnManager:n Susie nAbraham nProd
uctionnEditor:nSuzanne nDeWorken nOperationsnS
pecialist:nArnoldnVila
Copyrightn©n2009 nby nPearsonnEducation,nInc.,nUppernSaddlenRiver,nNewnJersey,n07458.
Pearsonn Prenticen Hall.n Alln rightsn reserved.n Printed ninn thenUnitednStatesnof n America.n Thisn p
ublicationn isn protected n byn Copyright n and n permissionn should n ben obtained n fromn then publish
ern priorn ton anyn prohibited n reproduction,n storagen inn an retrievaln system,n orn transmissionn inn a
nyn formn orn byn anyn means,n electronic,n mechanical,n photocopying,n recording,n orn likewise.n F
orn informationn regardingn permission(s),n writen to:n Rightsn and n Permissionsn Department.
PearsonnPrenticenHall™nisn a n trademark n of n Pearson n Education,n Inc.
Pearson® nisn a n registered n trademark n of n Pearson n plc
PrenticenHall® nisn a n registered n trademark n of n Pearson n Education,n Inc.
Pearson n Education n Ltd.,n London
Pearson n Education nNorth nAsia,n Ltd.,nHongn Kong
n
n Pearson n Education n Singapore,n Pte.n Ltd
Pearson n Educación ndenMexico,n S.A.n den C.V.n Pea
rson n Education,n Canada,n Inc. Pearson n Education n Malaysia,n Pte.n Ltd
Pearson n Education–Japan
Pearson n Education nUppern Saddlen River,n Newn Jersey
n Pearson n Education n Australia n PTY,n Limited
10 9 8 7 6 5 4 3 2 1
ISBN-13:n 978-0-13-208025-5
ISBN-10:n 0-13-208025-7
www.elsolucionario.net
,www.elsolucionario.net
, CONTENTS
PnAnRnTn1: Introduction: nMarketsnandnPrices
Chaptern 1 Preliminaries 1
Chaptern 2 ThenBasicsnof n Supply n andnDem and 6
PnAnRnTn2: Producers, nConsumers, nandnCompetitivenMarkets
Chaptern 3 Consum er nBehavior 26
Chaptern 4 Individual n andn Marketn Dem and 49
Chaptern 4 Appendix 69
Chaptern 5 Uncertainty nandn Consum ern Behavior 76
Chaptern 6 Production 88
Chaptern 7 Then Costn of n Production 99
Chaptern 7 Appendix 115
Chaptern 8 ProfitnMaximizationnandn Com petitiven Supply 119
Chaptern 9 ThenAnalysisnof n Com petitivenMarkets 137
PnAnRnTn3: MarketnStructurenandnCompetitivenStrategy
Chaptern 10 Marketn Power:n Monopoly n andn Monopsony 158
Chaptern 11 Pricingnwithn Market nPower 182
Chaptern 11 Appendix 209
Chaptern 12 Monopolistic n Competition n and n Oligopoly 216
Chaptern 13 GamenTheory n andn Com petitiven Strategy 245
Chaptern 14 Marketsnforn FactornInputs 262
Chaptern 15 Investment,n Tim e,n andn Capitaln Markets 274
PnAnRnTn4: Information, nMarketnFailure, nandnthenRolenofnGovernment
Chaptern 16 GeneralnEquilibrium n andnEconom ic nEfficiency 289
Chaptern 17 Marketsn withn Asymm etric nInform ation 303
Chaptern 18 Externalitiesn andnPublic nGoods 315
www.elsolucionario.net
M. Holthausen
n
North Carolina State University
n n n
Microeconomics
7th edition
n
Robert S. Pindyck Da n n n
niel L. Rubinfeld
n n
PrenticenHall
UppernSaddlenRiver, nNewnJersey n07458
Newn York n Boston n San n Francisco
London n Toronto n Sydney n Tokyo n Singaporen Madrid n Mexi
co n City n Munich n Parisn Capen Town n Hongn Kongn Montreal
www.elsolucionario.net
,ThisnworknisnprotectednbynUnitednStatesncopyrightnlawsnandnisnprovidednsolel
ynfornthenusenofninstructorsninnteachingntheirncoursesnandnassessingnstudentn
learning.n Disseminationnornsalenofnanynpartnofnthisnworkn(includingnonnthenW
orldnWidenWeb)nwillndestroynthenintegritynofnthenworknandnisnnotnpermitted.
Thenworknandnmaterialsnfromnitnshouldnnevernbenmadenavailablenton
studentsnexceptnbyninstructorsnusingnthenaccompanyingntextninntheirnclasses
.
Allnrecipientsnofnthisnworknarenexpectedntonabidenbynthesenrestricti
onsnandntonhonornthenintendednpedagogicalnpurposesnandnthenneedsnofnother
ninstructors nwho nrelynon nthesenmaterials.
Editor-in-Chief:n EricnSvendsen
ExecutivenEditor:n ChrisnRogers
EditorialnProjectnManager:n Susie nAbraham nProd
uctionnEditor:nSuzanne nDeWorken nOperationsnS
pecialist:nArnoldnVila
Copyrightn©n2009 nby nPearsonnEducation,nInc.,nUppernSaddlenRiver,nNewnJersey,n07458.
Pearsonn Prenticen Hall.n Alln rightsn reserved.n Printed ninn thenUnitednStatesnof n America.n Thisn p
ublicationn isn protected n byn Copyright n and n permissionn should n ben obtained n fromn then publish
ern priorn ton anyn prohibited n reproduction,n storagen inn an retrievaln system,n orn transmissionn inn a
nyn formn orn byn anyn means,n electronic,n mechanical,n photocopying,n recording,n orn likewise.n F
orn informationn regardingn permission(s),n writen to:n Rightsn and n Permissionsn Department.
PearsonnPrenticenHall™nisn a n trademark n of n Pearson n Education,n Inc.
Pearson® nisn a n registered n trademark n of n Pearson n plc
PrenticenHall® nisn a n registered n trademark n of n Pearson n Education,n Inc.
Pearson n Education n Ltd.,n London
Pearson n Education nNorth nAsia,n Ltd.,nHongn Kong
n
n Pearson n Education n Singapore,n Pte.n Ltd
Pearson n Educación ndenMexico,n S.A.n den C.V.n Pea
rson n Education,n Canada,n Inc. Pearson n Education n Malaysia,n Pte.n Ltd
Pearson n Education–Japan
Pearson n Education nUppern Saddlen River,n Newn Jersey
n Pearson n Education n Australia n PTY,n Limited
10 9 8 7 6 5 4 3 2 1
ISBN-13:n 978-0-13-208025-5
ISBN-10:n 0-13-208025-7
www.elsolucionario.net
,www.elsolucionario.net
, CONTENTS
PnAnRnTn1: Introduction: nMarketsnandnPrices
Chaptern 1 Preliminaries 1
Chaptern 2 ThenBasicsnof n Supply n andnDem and 6
PnAnRnTn2: Producers, nConsumers, nandnCompetitivenMarkets
Chaptern 3 Consum er nBehavior 26
Chaptern 4 Individual n andn Marketn Dem and 49
Chaptern 4 Appendix 69
Chaptern 5 Uncertainty nandn Consum ern Behavior 76
Chaptern 6 Production 88
Chaptern 7 Then Costn of n Production 99
Chaptern 7 Appendix 115
Chaptern 8 ProfitnMaximizationnandn Com petitiven Supply 119
Chaptern 9 ThenAnalysisnof n Com petitivenMarkets 137
PnAnRnTn3: MarketnStructurenandnCompetitivenStrategy
Chaptern 10 Marketn Power:n Monopoly n andn Monopsony 158
Chaptern 11 Pricingnwithn Market nPower 182
Chaptern 11 Appendix 209
Chaptern 12 Monopolistic n Competition n and n Oligopoly 216
Chaptern 13 GamenTheory n andn Com petitiven Strategy 245
Chaptern 14 Marketsnforn FactornInputs 262
Chaptern 15 Investment,n Tim e,n andn Capitaln Markets 274
PnAnRnTn4: Information, nMarketnFailure, nandnthenRolenofnGovernment
Chaptern 16 GeneralnEquilibrium n andnEconom ic nEfficiency 289
Chaptern 17 Marketsn withn Asymm etric nInform ation 303
Chaptern 18 Externalitiesn andnPublic nGoods 315
www.elsolucionario.net
