Reviewers tell us that Case/Fair/Oster is one of the all-time bestselling Principles of Economics texts because they trust it to be clear, thorough, and complete. Readers ofPrinciples of Microeconomics,Twelfth Editioncome away with a basic understanding of how market economies function, an appreciation for the things they do well, and a sense of things they do poorly. With the latest research and added exercises, readers begin to learn the art and science of economic thinking and start to look at some policy and even personal decisions in a different way.KEY TOPICS:The Scope and Method of Economics; The Economic Problem: Scarcity and Choice; Demand, Supply, and Market Equilibrium; Demand and Supply Applications; Elasticity; Household Behavior and Consumer Choice; The Production Process: The Behavior of Profit-Maximizing Firms; Short-Run Costs and Output Decisions; Long-Run Costs and Output Decisions; Input Demand: The Labor and Land Markets; Input Demand: The Capital Market and the Investment Decision; General Equilibrium and the Efficiency of Perfect Competition; Monopoly and Antitrust Policy; Oligopoly; Monopolistic Competition; Externalities, Public Goods, and Common Resources; Uncertainty and Asymmetric Information; Income Distribution and Poverty; Public Finance: The Economics of Taxation; International Trade, Comparative Advantage, and Protectionism; Economic Growth in Developing Economies; Critical Thinking about ResearchMARKET:For readers interested in the principles of microeconomics.