© 2007 pearson addison-wesley. all rights reserved.8–1 figure 8.2 how a competitive firm...

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Figure 8.2 How a Competitive Firm Maximizes Profit

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Figure 8.3 The Short-Run Shutdown Decision

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Figure 8.4 How the Profit-Maximizing Quantity Varies with Price

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Figure 8.10 Long-Run Firm and Market Supply with Identical Vegetable Oil Firms

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Figure 9.1 Consumer Surplus

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Figure 9.3 Producer Surplus

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Figure 9.4 Why Reducing Output from the Competitive Level Lowers Welfare

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Figure 9.5 Why Increasing Output from the Competitive Level Lowers Welfare

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Figure 9.7 Welfare Effects of a Specific Tax on Roses

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Page 293 Solved Problem 9.5

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Figure 9.9 Loss from Eliminating Free Trade

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Figure 9.10 Effect of a Tariff (or Quota)

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Figure 11.1 Average and Marginal Revenue

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Figure 11.2 Elasticity of Demand and Total, Average, and Marginal Revenue

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Table 11.1 Quantity, Price, Marginal Revenue, and Elasticity for the Linear Inverse Demand Curve

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Figure 11.3 Maximizing Profit

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Figure 11.4 Effects of a Shift of the Demand Curve

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Table 11.2 Elasticity of Demand, Price, and Marginal Cost

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Page 357 Solved Problem 11.1

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Figure 11.5 Deadweight Loss of Monopoly

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Page 361 Solved Problem 11.2

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Figure 11.7 Natural Monopoly

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Application (Page 366) Electric Power Utilities

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Application (Page 369) Botox Patent Monopoly

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Figure 11.8 Optimal Price Regulation

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Figure 11.9 Regulating a Telephone Utility