1st Edition

The Core Theory in Economics
Problems and Solutions

ISBN 9780415493659
Published January 29, 2009 by Routledge
396 Pages 36 B/W Illustrations

USD $62.95

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Book Description

An important tenet of game theory, core theory has nonetheless been all but ignored by the mainstream. Its basic premise is that individuals band together in order to promote their interests as much as possible. The return to an individual depends on competition among various coalitions for its membership, and a group of people can obtain a joint maximum by suitable coordinated actions.

In this key title, Lester Telser investigates the following issues:

  • Markets 
  • Multiproduct Industry Total Cost Functions with Avoidable Costs 
  • Critical Analyses of Noncooperative Equilibria.

Through these distinct sections, Telser skilfully brings the ideas of core theory to bear on a range of issues within economics – with particular emphasis on supply and demand and the way markets function.

Table of Contents

Part I: Introduction  Part II: Markets  Part III: Multiproduct Industry Total Cost Functions with Avoidable Costs  Part IV: Critical Analyses of Noncooperative Equilibria

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Lester G. Telser is Emeritus Professor Economics at the University of Chicago, USA.