剑桥国际经济IIntermediate Microeconomics A Modern Approach, 8th Edition by Hal R. Varian-chapter11 assset markets.pdfVIP

This page intentionally left blank Intermediate Microeconomics A Modern Approach Eighth Edition W. W. Norton Company has been independent since its founding in 1923, when William Warder Norton and Mary D. Herter Norton first published lec- tures delivered at the People’s Institute, the adult education division of New York City’s Cooper Union. The firm soon expanded its program beyond the In- stitute, publishing books by celebrated academics from America and abroad. By mid-century, the two major pillars of Norton’s publishing program—trade books and college texts—were firmly established. In the 1950s, the Norton family trans- ferred control of the company to its employees, and today—with a staff of four hundred and a comparable number of trade, college, and professional titles pub- lished each year—W. W. Norton Company stands as the largest and oldest publishing house owned wholly by its employees. c Copyright 2010, 2006, 2003, 1999, 1996, 1993, 1990, 1987 by Hal R. Varian All rights reserved Printed in the United States of America EIGHTH EDITION Editor: Jack Repcheck Production Manager: Eric Pier–Hocking Editorial Assistant: Jason Spears T Xnician: Hal Varian E ISBN 978-0-393-93424-3 W. W. Norton Company, Inc., 500 Fifth Avenue, New York, N.Y. 10110 W. W. Norton Company, Ltd., Castle House, 75/76 Wells Street, London W1T 3QT 1 2 3 4 5 6 7 8 9 0 Intermediate Microeconomics A Modern Approach Eighth Edition Hal R. Varian University of California at Berkeley W. W. Norton Company • New York • London This page intentionally left blank To Carol This page intentionally left blank CONTENTS Preface xix 1 The Market Constructing a