Index perfect competition, 283–288, 316, 319–331, 352 theory of the firm, 5, 8–10, 16, 21–23, 27, 33–34, 36–37, 113, 198 unconstrained, 279–295 Psychological pricing, 470, 474, 476, 478 PV (See Present value) Public goods, 687, 715–724 Purcell, E. J., 97 Pure capitalism, 11–13, 16, 37
-QQayum, A., 194, 550 Quadratic formula, 77 Quadratic function, 54–55, 97 Quandt, R. E., 41, 97, 233, 264, 309, 358, 377, 417 Queuing, 131–132, 138, 140
-RRaiffa, H., 406, 417, 619 Ramanathan, R., 9, 41, 111, 144, 222n Range, 44 Rasmusen, E., 619 Ration coupons, 131, 138, 140 Rationing function of prices, 129–132, 136, 138, 140 Raviv, A., 22, 41 Reaction function, 393–404, 413 Repeated game, 554, 568–586, 588, 609–611 Required rate of return, 509, 521, 541–544 Retained earnings, 540, 544 Returns to scale constant, 200, 218–221, 224, 226–227, 250, 252–253, 259–260 decreasing, 200, 218–222, 224, 226–227, 250–253, 259–260 increasing, 200, 218, 221–222, 224, 226–227, 250–253, 259–260 Revenue maximization: first-order and second-order conditions, 299–300, 303–304 unconstrained, 299–302 Riley, J., 685 Risk, 621–680 Risk aversion, 627–648, 655, 660–662, 666–667, 669, 671–672, 674, 678, 680 Risk avoider, 555–556, 611 Risk-bearing theory of profit, 32 Risk-free rate of return, 30 Risk-indifferent rate of return, 658
737 Risk lover (See Risk taker) Risk neutral, 627, 630, 670, 678, 680 Risk premium, 30, 633–634, 638–639, 646, 678–679 Risk-return indifference map, 636 Risk taker, 555–556, 611, 627, 630–631, 655, 661–662, 670, 678, 680 Robinson, J., 361, 373, 377, 483 Robinson-Patman Act, 691, 693 Rosenfeldt, R. L., 511n Rosenlicht, M., 97 Rubinstein, A., 607, 619 Rule of reason, 382–383 Rules of exponents, 52–53 Rules of differentiation: chain rule, 67 exponential and logarithmic functions, 68 implicit differentiation, 71–72 inverse function rule, 69–71 power-function rule, 63–64 product rule, 65 quotient rule, 66–67 sums and differences rule, 64–65
-SSalvage value, 506, 508, 514, 544 Salvatore, D., 483 Samuelson, P. A., 102n, 144 Satisficing behavior, 21, 34, 37 Savage, L., 685 Scarcity, 1, 3, 27, 37 Schall, L. D., 550 Schelling, T., 586, 619 Schneidau, R. E., 483 Schotter, A., 406, 417, 619, 685 Scitovsky, T., 483 Second-degree price discrimination, 420, 424–434, 474, 476, 478–479 Secure strategy (See Maximin strategy) Security deposit, 132 Seller’s reservation price, 602 Selten, R., 558, 591, 620 Sequential-move game (See Multistage game) Shanley, M., 619 Shavell, S., 22, 41 Sherman Act, 382–383, 691–693 Short-run monopolistic equilibrium, 334–335 Short-run monopolistically competitive equilibrium, 363–364 Short-run perfectly competitive equilibrium, 317, 323, 325, 329, 331
