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The present edition has been thoroughly revised and updated. While rivising the book author has tried to keep a balance between descriptive study, critical analysis, graphical presentation and mathematical formulation of the subject matter. The basic appraoch is analytical and graphical. Besides other changes, the major change in this edition is the difficult theorems proofs, which were earlier part of the text, has been shifted as appendices to the corresponding chapters so that non- mathematical students could easily grasp the subject.
The book is in six parts. Part one discusses the Nature of Economic Analysis. In Part two Theory of Consumer Behaviour and Market Demand, the author has included the Weber-Fechner law. Four consumer surpluses, Theory of revealed preference. Linear expenditure system. Distributed Log models, Engel expenditure curves and other important topics. Part three explains Theory of Production, Costs and Supply. In this part topics like Meclellands Achievement, Motivation in entreprenurial behaviour, Parkinsons law in interesnal diseconomies of the firm, Total cost functions.
Multi-period Production analysis, Sunplex method in linear programming and Long-run production functions. In Part Four Theory of Product Pricing. The author has added Theory of games in duopoly and oligopoly and Prisoners Dilemma. Von Thunens theory of rent in addition to the modern version of the Ricardian theory of rent has been incorporated in Part five, Theory of Factor Pricing and Theory of Distribution. In Part six, General Equilibrium and Welfare Economics some recent topics has also been included. Mathematical appendix has been revised and simplified and Kuhn-Tucker theorem has been included.
The book is primarily meant for postgraduate and honours students of economics and commerce of all Indian universities. Hopefully, the book will also be useful for the candidates preparing for various professional and competitive examinations. ISBN - 9788173280238
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Pages : 570
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