MicroEconomics 1st by goolsbee syverson

Ngày tải lên: 22/05/2017, 14:47

... Chapter One Overview 1 Defining DefiningMicroeconomics Microeconomics 2 Who WhoShould ShouldStudy StudyMicroeconomics? Microeconomics? 4 The TheTypes TypesofofMicroeconomic ... Example: C Chapter One 12 Copyright (c) 2014 John Wiley & Sons, Inc PFF + PCC = I The Constraint Optimization Example – Consumer Purchases F Example: 1/2 (FC) = S0 C Chapter One 13 Copyright (c) 2014 ... the l...

Ngày tải lên: 15/05/2017, 15:13

... slope of supply by a shift in demand We can “identify” the slope of demand by a shift in supply This technique only works if one or the other of the curves stays constant Chapter Two Chapter Two ... prices Chapter Two Supply Curve for Wheat Chapter Two The Law of Supply Defined: The Law of Supply states that the quantity of a good offered increases when the price of this good incr...

Ngày tải lên: 15/05/2017, 15:13

... utility Chapter Three 29 Marginal Rate of Substitution The Marginal Rate of Substitution 2 Example: U = Ax +By ; MU =2Ax; MU = 2By x y (where: A and B positive) = MU /MU x y = 2Ax/ 2By = Ax /By Copyright ... indifferent And thus a contradiction And thus a contradiction Chapter Three 21 Copyright (c)2014 John Wiley & Sons, Inc to C by transitivity to C by transitivity Indifference...

Ngày tải lên: 15/05/2017, 15:13

... the commodity being considered Chapter Four Some Concepts Chapter Four Some Concepts Chapter Four Some Concepts Chapter Four Some Concepts Chapter Four Some Concepts Chapter Four Duality The mirror ... in the marketplace.” Chapter Four Interior Consumer Optimum Y • B Preference Direction • •C Optimal Choice (interior solution) IC BL Chapter Four X Interior Consumer Optimum Ch...

Ngày tải lên: 15/05/2017, 15:13

... words, words, market market demand demand isis obtained obtained by by adding adding the the quantities quantities demanded demandedby bythe theindividuals individuals(or (orsegments) segments)atateach ... Chapter Five Copyright (c)2014 John Wiley & Sons, Inc as aspoints pointson onaashifting shiftingdemand demandcurve curve 11 Copyright (c)2014 John Wiley & Sons, Inc Income Consumption C...

Ngày tải lên: 15/05/2017, 15:13

... L, K ) Chapter Six The Production Function & Technical Efficiency Chapter Six Labor Requirements Function • Labor requirements function L = g (Q) Example: L=Q for production function Q= L Chapter ... single input increases Chapter Six Total, Average, and Marginal Products L 12 18 24 30 Q 30 96 162 192 150 APL Chapter Six MPL 11 11 -7 Total, Average, and Marginal Products Chapter S...

Ngày tải lên: 15/05/2017, 15:13

... Wiley & Sons, Inc for forthe thefirm firm Chapter Seven Isocost Line w = $10/hour r = $20/hour TC = $1 million Or more generally: TC K= r − (w / r ) L Chapter Seven 10 Copyright (c)2014 John Wiley ... w r Chapter Seven 15 Long-Run Cost Minimization MPL w > MPK r • At point E • This implies the firm could spend an additional MPL MPK (or ) > w r dollar on labor and save more than a dollar...

Ngày tải lên: 15/05/2017, 15:13

... varies and w and r are fixed? Chapter Eight Long Run Total Cost Curve An Example Chapter Eight Long Run Total Cost Curve Chapter Eight Long Run Total Cost Curve Chapter Eight Long Run Total Cost ... TC(Q) = 2Q Chapter Eight A Total Cost Curve TC(Q) = 2Q TC ($ per year) $4M Q (units per year) Chapter Eight A Total Cost Curve TC(Q) = 2Q TC ($ per year) $2M Q (units per year) M Chap...

Ngày tải lên: 15/05/2017, 15:13

... maximization condition for a price-taking firm is P = MC Chapter Nine 11 Copyright (c)2014 John Wiley & Sons, Inc The Profit Maximization Condition Chapter Nine 12 The Profit Maximization Condition ... Wiley & Sons, Inc “firm demand" = P (sells as much as likes at P) “firm supply" defined by MC curve? Not quite: Chapter Nine 13 Short Run Equilibrium For Forthe thefollowing, following,...

Ngày tải lên: 15/05/2017, 15:13

... good at the point of sale (The amount paid by the demanders exceeds the total amount received by the sellers by amount T) Chapter Ten Policy: Excise Tax Chapter Ten Policy: Excise Tax With No Tax ... by which the price paid by buyers, Pd, rises over the non-tax equilibrium price, P*, is the incidence of the tax on consumers; the amount by which the price received by sellers,...

Ngày tải lên: 15/05/2017, 15:14