Microeconomics a programmed book, third edition, analyzes the way a market economy functions and the conditions under which a market system leads to an efficient allocation of resources. in studying such an economic system, the authors examine the situations in which resources are not efficiently allocated throught the market mechanisms. However, they direct most of their attention toward the operation of a perfectly competitive system. Considerable attentionis paid to basic analytical tools to give the reader a through grounding in basic microeconomic theory. In tghis third edition, the authors include a chapter on diagramatic explanations and material on imperfect competition.