xxi

We are grateful for the many, many people who helped us achieve our goals for writing a book of useful microeconomics.

Reviewer Acknowledgements

We are indebted to the following reviewers, focus group participants, and other consultants for their suggestions and advice:

Second Edition

Olugbenga Ajilore, The University of Toledo

Richard Anderson, Texas A & M University

Nestor Arguea, The University of West Florida

Don Bumpass, Sam Houston State University

Joni Charles, Texas State University

Anoshua Chaudhuri, San Francisco State University

Isaac Dilanni, The University of Illinois, Urbana-Champaign

Isabel Galiana, McGill University

Robert Gazzale, The University of Toronto

Julie Gonzalez, University of California, Santa Cruz

Merlin Hanauer, Sonoma State University

Geoffrey Jehle, Vassar University

Carrie Kerekes, Florida Gulf Coast University

Jim Leady, Notre Dame

Ata Mazaheri, The University of Toronto

Richard McGrath, Armstrong State University

Felix Munoz-Garcia, Washington State University

Michael Nuwer, State University of New York–Potsdam

Birikorant Okraku, Kettering University

Peter Orazem, Iowa State University

Nathan Perry, Colorado Mesa University

Tricia Petras, The Ohio State University

Spencer Phillips, The University of Virginia

Manu Raghav, De Pauw University

Reza Ramazani, St. Michael’s College

Dan Saros, Valparaiso University

Mark Tendall, Stanford University

Paola Valenti, Columbia University

Bruce Watson, Harvard University

Colin Wright, Claremont McKenna College

Janice Yee, Worcester State University

Haiphong Zhou, Western Michigan University

First Edition

Senyo Adjibolosoo, Point Loma Nazarene University

David Anderson, Centre College

Anthony Andrews, Governors State University

Georgeanne Artz, Iowa State University

Kevin Beckwith, Salem State University

Scott Benson, Idaho State University

Tibor Besedes, Georgia Institute of Technology

Volodymyr Bilotkach, Newcastle University

David Black, University of Delaware

Victor Brajer, California State University–Fullerton

John Brock, University of Colorado–Colorado Springs

Keith Brouhle, Grinnell College

Bruce Brown, California State Polytechnic University–Pomona

Byron Brown, Michigan State University

Donald Bumpass, Sam Houston State University

Paul Byrne, Washburn University

Benjamin Campbell, The Ohio State University

Bolong Cao, Ohio University

Shawn Carter, Jacksonville State University

Fwu-Ranq Chang, Indiana University–Bloomington

Joni Charles, Texas State University–San Marcos

Ron Cheung, Oberlin College

Marcelo Clerici-Arias, Stanford University

John Crooker, University of Central Missouri

Carl Davidson, Michigan State University

Harold Elder, University of Alabama

Tisha Emerson, Baylor University

Michael Enz, Framingham State University

Brent Evans, Mississippi State University

Haldun Evrenk, Boston University

Li Feng, Texas State University

Chris Ferguson, University of Wisconsin–Stout

xxii

Gary Fournier, Florida State University

Craig Gallet, California State University–Sacramento

Linda Ghent, Eastern Illinois University

Alex Gialanella, Manhattanville College

Lisa Giddings, University of Wisconsin–La Crosse

Kirk Gifford, Brigham Young University

Darrell Glaser, United States Naval Academy

Tuncer Gocmen, Shepherd University

Jacob Goldston, University of South Carolina

Julie Gonzalez, University of California–Santa Cruz

Darren Grant, Sam Houston State University

Chiara Gratton-Lavoie, California State University–Fullerton

Thomas Grennes, North Carolina State University

Philip Grossman, Monash University

Steffen Habermalz, Northwestern University

Jennifer Hafer, University of Arkansas

James Halteman, Wheaton College

David Hammes, University of Hawaii at Hilo

Mehdi Haririan, Bloomsburg University

Daniel J. Henderson, University of Alabama

Paul Hettler, California University of Pennsylvania

Tia Hilmer, San Diego State University

Gary Hoover, University of Alabama

Jack Hou, California State University–Long Beach

Greg Hunter, California State University–Pomona

Christos A. Ioannou, University of Southampton

Miren Ivankovic, Anderson University

Olena Ivus, Queen’s University

Michael Jerison, State University of New York–Albany

Bruce K. Johnson, Centre College

Daniel Johnson, Colorado College

Leo Kahane, Providence College

Raja Kali, University of Arkansas

Pari Kasliwal, California State University–Long Beach

John W. Keating, University of Kansas

Russell Kellogg, University of Colorado–Denver

Chris Kennedy, George Mason University

Rashid Khan, McMaster University

Vasilios D. Kosteas, Cleveland State University

Carsten Lange, California State Polytechnic University, Pomona

Jeffrey Larrimore, Georgetown University

Sang Lee, Southeastern Louisiana University

Daniel Lin, American University

Qihong Liu, University of Oklahoma

Jeffrey Livingston, Bentley University

Kristina Lybecker, Colorado College

Guangyu Ma, State University of New York–Buffalo

Teny Maghakian, University of California–Merced

Arindam Mandal, Siena College

Justin Marion, University of California–Santa Cruz

Timothy Mathews, Kennesaw State University

Ata Mazaheri, University of Toronto–Scarborough

John McArthur, Wofford College

Naranchimeg Mijid, Central Connecticut State University

Lijia Mo, Kansas State University

Myra Moore, University of Georgia

Tamah Morant, North Carolina State University

Thayer Morrill, North Carolina State University

Felix Munoz-Garcia, Washington State University

Kathryn Nantz, Fairfield University

Pascal Ngoboka, University of Wisconsin–River Falls

Hong V. Nguyen, University of Scranton

Michael Nieswiadomy, University of North Texas

Matthew J. Notowidigdo, The University of Chicago

Constantin Ogloblin, Georgia Southern University

Alex Olbrecht, Ramapo College of New Jersey

Heather O’Neill, Ursinus College

June O’Neill, Baruch College, City University of New York

Patrick O’Neill, University of North Dakota

Alexei Orlov, Radford University

Lydia Ortega, San Jose State University

Emily Oster, The University of Chicago

Orgul Ozturk, University of South Carolina

Alexandre Padilla, Metropolitan State University of Denver

James Payne, University of South Florida

Anita Alves Pena, Colorado State University

Marie Petkus, Centre College

Jeremy Petranka, University of North Carolina–Chapel Hill

Barry Pfitzner, Randolph-Macon College

Brennan Platt, Brigham Young University

James Prieger, Pepperdine University

Samuel Raisanen, Central Michigan University

Rati Ram, Illinois State University

Ryan Ratcliff, University of San Diego

Marie Rekkas, Simon Fraser University

Michael Reksulak, Georgia Southern University

Malcolm Robinson, Thomas More College

Juliette Roddy, University of Michigan–Dearborn

Brian Rosario, American River College

Nicholas Rupp, East Carolina University

Robert Rycroft, University of Mary Washington

Shane Sanders, Western Illinois University

Sudipta Sarangi, Louisiana State University

Tom Scheiding, Cardinal Stritch University

Helen Schneider, University of Texas–Austin

Barbara Schone, Georgetown University

Kathleen Segerson, University of Connecticut

Quazi Shahriar, San Diego State University

Carl Shapiro, University of California–Berkeley

Alexandre Skiba, University of Wyoming

Rachael Small, University of Colorado at Boulder

Christy Spivey, University of Texas–Arlington

Kevin Stange, University of Michigan

Lee Stone, State University of New York–Geneseo

David Switzer, St. Cloud State University

Ellen Szarleta, Indiana University–Northwest

Kerry Tan, Loyola University Maryland

Gwendolyn Tedeschi, Manhattan College

Jeremy Thornton, Samford University

Irene Trela, Western University

Regina Trevino, Loyola University–Chicago

Brian Trinque, University of Texas–Austin

Victoria Umanskaya, University of California–Riverside

Michael Vaney, University of British Columbia

Jennifer VanGilder, Ursinus College

Jose Vazquez, University of Illinois at Urbana-Champaign

Annie Voy, Gonzaga University

Bhavneet Walia, Western Illinois University

Joann M. Weiner, The George Washington University

Jeanne Wendel, University of Nevada–Reno

Benjamin Widner, New Mexico State University

Keith Willet, Oklahoma State University

Beth Wilson, Humboldt State University

Catherine Wolfram, University of California–Berkeley

Peter Wui, University of Arkansas–Pine Bluff

Erik Zemljic, Kent State University

xxiii

Faculty Advisers

We owe an enormous debt to Linda Ghent, Eastern Illinois University, our consulting faculty editor, a talented economist, and gifted teacher. So much of this book, from text to features to graphics, reflects her imprint. Her devotion to and belief in this book from its inception to its completion have been invaluable and it has been a real pleasure working with her.

Alan Grant, Baker College, produced end-of-chapter questions that don’t just test the material in the book, but enhance it. Scott Houser, Colorado School of Mines, and Anita Pena, Colorado State University, shaped the calculus program for the book and with Skip Crooker and Kristina Lybecker, developed many of the resources needed to make this book useful for a broad range of instructors and students.

We would especially like to thank the eagle-eyed Michael Reksulak for his vigilant accuracy checking of the entire book. The book is cleaner, easier to read, and more understandable because of his careful work. Michael could spot a typo half a mile away, and we’re all better off for it.

Publisher Acknowledgments

We owe a great deal of thanks to the many hardworking and creative people who have helped bring this book into existence.

Craig Bleyer, then Publisher of the economics list at Worth, started us down this road with a knock on Austan’s door many years ago. When Craig took a new job within the company, Charles Linsmeier succeeded him as Publisher, and provided the thoughtful direction for the second edition. Shani Fisher became Publisher as the second edition was created. She showed a steady hand and saw this project through to publication.

Each member of our book team brought unique talents and perspective to the work. Our able and accomplished Executive Editor at Worth, Carlise Stembridge, managed this project with great expertise, humor, and devotion. Keeping the project on track required her heroic (and heroically patient) efforts.

Our Developmental Editor, Jane Tufts, has edited some of the discipline’s finest texts, and her creative influence can be seen in every element and every page of the book. With her unparalleled ability to read manuscript with real empathy for the student’s experience, she provided guidance and advice that transformed our initial drafts into a readable, student-focused, and engaging text.

xxiv

Bruce Kaplan, Developmental Editor at Worth, controlled and directed the editorial traffic generated by the extensive development and production process with unwavering intelligence, good judgment, practicality, calm, and skill. He moved the manuscript expertly into the hands of our tireless production team.

Most especially, we would have been lost without the assistance of Mattie Toma, on the ground with us at the University of Chicago. With the experience she’s gained assisting us with research, editing, proofreading, and publisher communications, she’s ready to write her own book!

We are grateful to the many people at Worth who provided the knowledge and support needed to get this book into your hands. Tracey Kuehn, Stacey Alexander, and Lisa Kinne provided essential direction, from the earliest planning stages to the very end. Kerry O’Shaughnessy saw our manuscript through the production process with superior attention to detail and resourcefulness in the wake of missed deadlines here and there (and there and there and there!). And we are grateful for the careful eye of Patti Brecht, our copy editor. Designer Diana Blume deserves credit for the book’s eye-catching design. Robin Fadool worked tirelessly to find interesting and entertaining photos for each chapter. We are also grateful for the marketing direction and insight provided by Tom Digiano.

Intermediate microeconomics is a hands-on course for instructors and students, and there is a great need for quality instructional and learning tools to enhance their experiences in and out of the classroom. Our Media Editor at Worth, Lukia Kliossis, has worked with a team of instructors to provide innovative tools for both instructor and student. We are especially grateful to Lukia for revising these resources for the second edition. The resources she and her colleagues, Edgar Bonilla and Andrew Vaccaro, have delivered will enhance the course experience of instructors and students.

Final Thoughts

Heartfelt thanks to our families for their continued support of our work (especially when we are too busy to let them know how much we appreciate it).

Ultimately, any text is only a tool and a complement to what students learn in the classroom and from one another. We hope that this text will help you to start them on that journey to using economics.

September 30, 2015