The Core Theory in Economics

Problems and Solutions

Business & Finance, Economics, Microeconomics
Cover of the book The Core Theory in Economics by Lester Telser, Taylor and Francis
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Author: Lester Telser ISBN: 9781135992194
Publisher: Taylor and Francis Publication: November 12, 2012
Imprint: Routledge Language: English
Author: Lester Telser
ISBN: 9781135992194
Publisher: Taylor and Francis
Publication: November 12, 2012
Imprint: Routledge
Language: English

An important tenet of game theory, core theory has nonetheless been all but ignored by the mainstream. Its basic premise is that individuals band together in order to promote their interests as much as possible. The return to an individual depends on competition among various coalitions for its membership, and a group of people can obtain a joint maximum by suitable coordinated actions.

In this key title, Lester Telser investigates the following issues:

  • Markets
  • Multiproduct Industry Total Cost Functions with Avoidable Costs
  • Critical Analyses of Noncooperative Equilibria.

Through these distinct sections, Telser skilfully brings the ideas of core theory to bear on a range of issues within economics – with particular emphasis on supply and demand and the way markets function.

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An important tenet of game theory, core theory has nonetheless been all but ignored by the mainstream. Its basic premise is that individuals band together in order to promote their interests as much as possible. The return to an individual depends on competition among various coalitions for its membership, and a group of people can obtain a joint maximum by suitable coordinated actions.

In this key title, Lester Telser investigates the following issues:

Through these distinct sections, Telser skilfully brings the ideas of core theory to bear on a range of issues within economics – with particular emphasis on supply and demand and the way markets function.

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