Price Theory

Price Theory: A Provisional Text is a book written by the renowned economist Milton Friedman and was first published in 1962. The book is a comprehensive study of the theory of prices and how they affect economic decisions. It provides a detailed analysis of the market forces that determine prices, the role of supply and demand in price determination, and the impact of government policies on prices.The book is divided into three parts. The first part introduces the reader to the basic concepts of price theory, including the relationship between prices and economic decisions. The second part delves deeper into the factors that influence prices, such as the behavior of consumers and producers, market structures, and the role of information in price determination. The third part of the book focuses on the impact of government policies on prices, including price controls, taxes, and subsidies.Throughout the book, Friedman uses clear and concise language to explain complex economic concepts, making it accessible to both students and professionals. The book is also notable for its emphasis on the importance of empirical analysis in economics, as Friedman argues that economic theories must be tested against real-world data to be useful.Overall, Price Theory: A Provisional Text is a classic work of economic theory that remains relevant today. It provides a solid foundation for understanding the principles of price theory and their application in the real world.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.