Microeconomics: Theory and Applications provides a comprehensive and authentic text on the theory and applications of microeconomics. The book has been thoroughly revised with new chapters and sections added at appropriate places and meets the study requirements of regular students of microeconomics and of those preparing for competitive examinations. An effort has been made to present microeconomic theories lucidly and comprehensively and to delineate the application of microeconomic theories to business decision-making and to analyse the economic effects of indirect taxes, subsidy and pricing policies of the government. Key Features • Coverage of all topics taught in Indian universities and business schools • Complex theories are explained with self-explanatory diagrams • Plenty of numerical problems • Questions from various universitiy question papers are given at the end of each chapter New in this Edition • More examples and mathematical treatment of economic theories • Substantial revision and updating of several chapters • Two additional chapters: (i) Application of Competitive Market Theory, (ii) Theory of Sales Maximization and Game Theory