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PART 1 INTRODUCTION TO ECONOMICS 1 1 Introducing the Economic Way of Thinking 2 APPENDIX TO CHAPTER 1 Applying Graphs to Economics 20 2 Production Possibilities, Opportunity Cost, and Economic Growth 32 3 Market Demand and Supply S0 4 Markets in Action 79 APPENDIX TO CHAPTER 4 Applying Supply and Demand Analysis to Health Care 100 PART 2 MICROECONOMIC FUNDAMENTALS 105 5 Price Elasticity of Demand and Supply 106 6 Consumer Choice Theory 130 7 Production Costs 144 PART 3 MARKET STRUCTURES 171 8 Perfect Competition 172 9 Monopoly 200 10 Monopolistic Competition and Oligopoly 222 11 Labor Markets 245 PART 4 MICROECONOMIC POLICY ISSUES 267 12 income Distribution, Poverty, and Discrimination 268 13 Antitrust and Regulation 293 ......