Microeconomics. The behavior of economic agents in conditions of certainty, uncertainty and risk. Theory and applications

The present work entitled Microeconomics. The behavior of economic agents in conditions of certainty, uncertainty and risk. Theory and applications is designed to support all those who are interested to know more or less analytical aspects of microeconomic science.

In this context, the book is structured in three parts, comprising 8 chapters. The first chapter is a distinct one, Introduction to Microeconomics, where a foray is made into the basic issues of microeconomics, starting with the economic agents and reaching the types of competition and the sphere of general equilibrium theory.

The first part, suggestively titled Consumer Theory and containing three chapters, addresses consumer preferences and budget constraint, optimal consumer choices on the market for goods and services, as well as the substitution effect and the revenue effect of both Slutsky and Hicks type, coexisting, as in the whole work, the theoretical elements with the applied ones.

The second part of the book, Producer Theory also contains three chapters, making a relevant quantitative analysis based on production functions, cost functions and profit functions.

Since individual behavior is formed under the influence of a wide variety of factors, among which subjective and psychological factors predominate, for example, consumer behavior is formed on the basis of one's own system of preferences, the third part of the paper, Market competition and the behavior of economic agents in conditions of perfect competition, addresses the behavior of economic agents in situations of certainty.

The book is also complemented by graphs, economic interpretations and solved applications that help to understand and clarify the exposed theoretical notions.

Consequently, the work Microeconomics. Behavior of economic agents in conditions of certainty, uncertainty and risk. Theory and applications is recommended both to students who have in the curriculum Microeconomics, Theory of economic equilibrium, Theory of contracts, Information economics, as well as to researchers and those interested in various aspects related to the microeconomic phenomenon.