Copyright © 2023 Pearson Canada Inc.
f f f f f
, INSTRUCTOR’SSOLUTIONS F
MANUAL F
for
Microeconomics
Seventeenth Canadian Edition f f
Christopher T.S. Ragan f f
McGill University f
ISBN 978-0-13-766398-9
f
Copyright f© f2023 fPearson fCanada fInc., fToronto, fOntario. fAll frights freserved. fThis fwork fis fprotected fby fCanadian fcopyright flaws
fand fis fprovided fsolely ffor fthe fuse fof finstructors fin fteaching ftheir fcourses fand fassessing fstudent flearning. fDissemination for fsale fof
fany fpart fof fthis fwork f(including fon fthe finternet) fwill fdestroy fthe fintegrity fof fthe fwork fand fis fnot fpermitted. fThe fcopyright fholder
fgrants fpermission fto finstructors fwho fhave fadopted fMicroeconomics, fby fChristopher fT. fS. fRagan, fto fpost fthis fmaterial fonline fonly
fif fthe fuse fof fthe fwebsite fis frestricted fby faccess fcodes fto fstudents fin fthe finstructor‘s fclass fthat fis fusing fthe ftextbook fand fprovided
fthe freproduced fmaterial fbears fthis fcopyright fnotice.
Copyright © 2023 Pearson Canada Inc.
f f f f f
,
, ii Instructor‘s Solutions Manual for Ragan, Microeconomics, Seventeenth Canadian Edition
f f f f f f f f
Contents
Part One: What Is Economics?
f f f f 1
Chapter 1: Economic Issues and Concepts
f f f f f 3
Chapter 2: Economic Theories, Data, and Graphs
f f f f f f 13
Part Two: An Introduction to Demand and Supply
f f f f f f f 26
Chapter 3: Demand, Supply, and Price
f f f f f 27
Chapter 4: Elasticity
f f 40
Chapter 5: Price Controls and Market Efficiency
f f f f f f 54
Part Three: Consumers and Producers
f f f f 65
Chapter 6: Consumer Behaviour
f f f 66
Chapter 7: Producers in the Short Run
f f f f f f 81
Chapter 8: Producers in the Long Run
f f f f f f 95
Part Four: Market Structure and Efficiency
f f f f f 104
Chapter 9: Competitive Markets
f f f 105
Chapter 10: Monopoly, Cartels, and Price Discrimination
f f f f f f 116
Chapter 11: Imperfect Competition and Strategic Behaviour
f f f f f f 131
Chapter 12: Economic Efficiency and Public Policy
f f f f f f 140
Part Five: Factor Markets
f f f 150
Chapter 13: How Factor Markets Work
f f f f f 152
Chapter 14: Labour Markets and Income Inequality
f f f f f f 163
Chapter 15: Interest Rates and the Capital Market
f f f f f f f 175
Part Six: Government in the Market Economy
f f f f f f 183
Chapter 16: Market Failures and Government Intervention
f f f f f f 185
Chapter 17: The Economics of Environmental Protection
f f f f f f 198
Chapter 18: Taxation and Public Expenditure
f f f f f 210
Part Seven: Canada in the Global Economy
f f f f f f 219
Chapter 19: The Gains from International Trade
f f f f f f 220
Chapter 20: Trade Policy
f f f 229
Copyright © 2023 Pearson Canada Inc. f f f f f
f f f f f
, INSTRUCTOR’SSOLUTIONS F
MANUAL F
for
Microeconomics
Seventeenth Canadian Edition f f
Christopher T.S. Ragan f f
McGill University f
ISBN 978-0-13-766398-9
f
Copyright f© f2023 fPearson fCanada fInc., fToronto, fOntario. fAll frights freserved. fThis fwork fis fprotected fby fCanadian fcopyright flaws
fand fis fprovided fsolely ffor fthe fuse fof finstructors fin fteaching ftheir fcourses fand fassessing fstudent flearning. fDissemination for fsale fof
fany fpart fof fthis fwork f(including fon fthe finternet) fwill fdestroy fthe fintegrity fof fthe fwork fand fis fnot fpermitted. fThe fcopyright fholder
fgrants fpermission fto finstructors fwho fhave fadopted fMicroeconomics, fby fChristopher fT. fS. fRagan, fto fpost fthis fmaterial fonline fonly
fif fthe fuse fof fthe fwebsite fis frestricted fby faccess fcodes fto fstudents fin fthe finstructor‘s fclass fthat fis fusing fthe ftextbook fand fprovided
fthe freproduced fmaterial fbears fthis fcopyright fnotice.
Copyright © 2023 Pearson Canada Inc.
f f f f f
,
, ii Instructor‘s Solutions Manual for Ragan, Microeconomics, Seventeenth Canadian Edition
f f f f f f f f
Contents
Part One: What Is Economics?
f f f f 1
Chapter 1: Economic Issues and Concepts
f f f f f 3
Chapter 2: Economic Theories, Data, and Graphs
f f f f f f 13
Part Two: An Introduction to Demand and Supply
f f f f f f f 26
Chapter 3: Demand, Supply, and Price
f f f f f 27
Chapter 4: Elasticity
f f 40
Chapter 5: Price Controls and Market Efficiency
f f f f f f 54
Part Three: Consumers and Producers
f f f f 65
Chapter 6: Consumer Behaviour
f f f 66
Chapter 7: Producers in the Short Run
f f f f f f 81
Chapter 8: Producers in the Long Run
f f f f f f 95
Part Four: Market Structure and Efficiency
f f f f f 104
Chapter 9: Competitive Markets
f f f 105
Chapter 10: Monopoly, Cartels, and Price Discrimination
f f f f f f 116
Chapter 11: Imperfect Competition and Strategic Behaviour
f f f f f f 131
Chapter 12: Economic Efficiency and Public Policy
f f f f f f 140
Part Five: Factor Markets
f f f 150
Chapter 13: How Factor Markets Work
f f f f f 152
Chapter 14: Labour Markets and Income Inequality
f f f f f f 163
Chapter 15: Interest Rates and the Capital Market
f f f f f f f 175
Part Six: Government in the Market Economy
f f f f f f 183
Chapter 16: Market Failures and Government Intervention
f f f f f f 185
Chapter 17: The Economics of Environmental Protection
f f f f f f 198
Chapter 18: Taxation and Public Expenditure
f f f f f 210
Part Seven: Canada in the Global Economy
f f f f f f 219
Chapter 19: The Gains from International Trade
f f f f f f 220
Chapter 20: Trade Policy
f f f 229
Copyright © 2023 Pearson Canada Inc. f f f f f
