This is a book on applied microeconomics. It has been designed for the many classes given each year for students who want to learn to become better managers, public officials, lawyers, or members of other such professional groups. While the book's general structure and approach remain much the same in this edition as in the previous one, there are many noteworthy improvements.
A new Chapter 2 has been added, the purpose being to acquaint the student early in the course with the usefulness of microeconomics. Chapter 15 now contains the materials on input pricing that formerly occupied two chapters. My purpose in this book has been to show students repeatedly and indetail exactly how microeconomics theory can be applied to help solve real problems faced by actual decision makers in industry and government.
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The late Edwin Mansfield was for many years a distinguished professor of economics at the University of Pennsylvania. He was an internationally recognized expert in the economics of technology and industrial organization. His numerous texts, all published by W.W. Norton, have sold millions of copies around the world. In 1979, when Sino-American scientific agreements were finally reached, Mansfield was the first American economist to lecture in the People's Republic of China.
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