Principles of Agricultural Economics

ISBN-10: 0415540704
ISBN-13: 9780415540704
Edition: 2013
List price: $48.99
30 day, 100% satisfaction guarantee

If an item you ordered from TextbookRush does not meet your expectations due to an error on our part, simply fill out a return request and then return it by mail within 30 days of ordering it for a full refund of item cost.

Learn more about our returns policy

Description: This book showcases the power of economic principles to explain and predict issues and current events in the food, agricultural, agribusiness, international trade, natural resources and other sectors. The result is an agricultural economics textbook  More...

what's this?
Rush Rewards U
Members Receive:
coins
coins
You have reached 400 XP and carrot coins. That is the daily max!
You could win $10,000

Get an entry for every item you buy, rent, or sell.

Study Briefs

Limited time offer: Get the first one free! (?)

All the information you need in one place! Each Study Brief is a summary of one specific subject; facts, figures, and explanations to help you learn faster.

Add to cart
Study Briefs
Italian Grammar Online content $4.95 $1.99
Add to cart
Study Briefs
Portuguese Grammar Online content $4.95 $1.99
Add to cart
Study Briefs
Spanish Grammar Online content $4.95 $1.99
Add to cart
Study Briefs
German Grammar Online content $4.95 $1.99

Customers also bought

Loading
Loading
Loading
Loading
Loading
Loading
Loading
Loading
Loading
Loading

Book details

List price: $48.99
Copyright year: 2013
Publisher: Taylor & Francis Group
Publication date: 2/26/2013
Binding: Paperback
Pages: 384
Size: 6.75" wide x 9.50" long x 0.75" tall
Weight: 1.804
Language: English

This book showcases the power of economic principles to explain and predict issues and current events in the food, agricultural, agribusiness, international trade, natural resources and other sectors. The result is an agricultural economics textbook that provides students and instructors with a clear, up-to-date, and straightforward approach to learning how a market-based economy functions, and how to use simple economic principles for improved decision making. While the primary focus of the book is on microeconomic aspects, agricultural economics has expanded over recent decades to include issues of macroeconomics, international trade, agribusiness, environmental economics, natural resources, and international development. Hence, these topics are also provided with significant coverage.

List of boxes
List of figures
List of tables
List of plates
Preface
Acknowledgments
List of abbreviations
Introduction to the economics of agriculture
Synopsis
Introduction
Economics is important and interesting!
What is economics, and what is it about?
Scarcity
The economic organization of society
A model of an economy
Trends in the agricultural economy
Using graphs
Absolute and relative prices
Examples of graphs
Summary
Glossary
Review questions
The economics of production
Synopsis
The production function
Length of time: immediate run, short run, and long run
Physical production relationships
The Law of Diminishing Marginal Returns
The three stages of production
Summary
Glossary
Review questions
The costs of production
Synopsis
Profits
Opportunity costs
Costs and output
Cost curve example: Vermont daily farmer
Where do cost curves come from?
Constant, decreasing, and increasing cost curves
Summary
Glossary
Review questions
Profit maximization
Synopsis
Introduction
Perfect competition
The profit-maximizing level of input
The profit-maximizing level of output
Profits and losses, break even, and shutdown points
Summary
Glossary
Review questions
Optimal input selection
Synopsis
Introduction
The relationship between inputs
Isoquants
Relative prices
Isoquant types
Optimal input decisions
Optimal responses to price changes
Summary
Glossary
Review questions
Optimal output selection
Synopsis
Introduction
The Production Possibilities Frontier (PPF)
The Marginal Rate of Product Substitution (MRPS)
The isorevenue line
The optimal output combination
Price changes and the optimal output combination
Review of profit-maximization rules
Summary
Glossary
Review questions
Consumer choices
Synopsis
Introduction
Rational behavior
Utility
The Law of Diminishing Marginal Utility
Indifference curves
The marginal rate of substitution (MRS)
The budget constraint
Consumer equilibrium
The demand for meat in Phoenix, Arizona
Summary
Glossary
Review questions
Supply and demand
Synopsis
Introduction
Supply
The elasticity of supply
Change in supply; change in quantity supplied
Determinants of supply
Demand
The elasticity of demand
Change in demand; change in quantity demanded
Determinants of demand
Summary
Glossary
Review questions
Markets
Synopsis
Introduction
What is a market?
Market equilibrium
Comparative statics
Price policies
Mathematical models (optional)
Summary
Glossary
Review questions
The competitive firm
Synopsis
Market structure
Characteristics of perfect competition
The perfectly competitive firm
The efficiency of competitive industries
Strategies for perfectly competitive firms
Summary
Glossary
Review questions
Market power
Synopsis
Market power
Monopoly
Monopolistic competition
Oligopoly
Is big necessarily bad?
Summary
Glossary
Review questions
Agriculture and the global economy
Synopsis
Gobalization and agriculture
Interdependence and gains from trade
Gains from trade example: Oklahoma beef and wheat
The principle of comparative advantage
Comparative advantage and trade
Summary
Glossary
Review questions
Economics, agriculture, and the environment
Synopsis
Introduction
The tragedy of the commons
Externality
Private bargaining: Coase
Summary
Glossary
Review questions
Glossary
Index

×
Free shipping on orders over $35*

*A minimum purchase of $35 is required. Shipping is provided via FedEx SmartPost® and FedEx Express Saver®. Average delivery time is 1 – 5 business days, but is not guaranteed in that timeframe. Also allow 1 - 2 days for processing. Free shipping is eligible only in the continental United States and excludes Hawaii, Alaska and Puerto Rico. FedEx service marks used by permission."Marketplace" orders are not eligible for free or discounted shipping.

Learn more about the TextbookRush Marketplace.

×