Microeconomics , 6th Edition Robert L. Sexton
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,Instructor’s Solutions Manual
to accompany
Prepared by
Colin Kovacs
Algonquin College
,Instructor’s Solutions Manual to accompany
Exploring Microeconomics, Sixth Canadian Edition
By Robert L. Sexton, Colin C. Kovacs, and Peter N. Fortura
Prepared by Colin Kovacs
Technical Review by Peter Fortura
Distributed on Instructor’s Resources Website at login.cengage.com
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, CONTENTS
1. THE ROLE AND METHOD OF ECONOMICS ..............................................................................................1
2. SCARCITY, TRADE-OFFS, AND PRODUCTION POSSIBILITIES.................................................................8
3. SUPPLY AND DEMAND.............................................................................................................................13
4. BRINGING SUPPLY AND DEMAND TOGETHER ...................................................................................... 26
5. ELASTICITY .............................................................................................................................................35
6. CONSUMER CHOICE AND MARKET EFFICIENCY .................................................................................40
7. PRODUCTION AND COSTS .......................................................................................................................46
8. PERFECT COMPETITION.........................................................................................................................50
9. MONOPOLY ............................................................................................................................................. 56
10. MONOPOLISTIC COMPETITION AND OLIGOPOLY ..............................................................................64
11. LABOUR MARKETS AND THE DISTRIBUTION OF INCOME..................................................................71
12. MARKET FAILURE AND THE ENVIRONMENT ......................................................................................75