# All Educational Materials for ECON 1011 at George Washington University (GWU)

## Popular Study Guides

GWUECON 1011Suranovic SteveFall

## [ECON 1011] - Final Exam Guide - Everything you need to know! (52 pages long)

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Deductive reasoning vs. inductive reasoning: deductive if (x) then (y) (assumptions conclusions, inductive if we observe y then x could explain it (y =
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GWUECON 1011Suranovic SteveFall

## [ECON 1011] - Midterm Exam Guide - Ultimate 21 pages long Study Guide!

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Deductive reasoning vs. inductive reasoning: deductive if (x) then (y) (assumptions conclusions, inductive if we observe y then x could explain it (y =
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GWUECON 1011Irene FosterFall

## [ECON 1011] - Midterm Exam Guide - Everything you need to know! (15 pages long)

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Economics is the study of the choices made by economic agents (individuals or groups) Consumers as a whole, firms, industries, governments. All these c
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GWUECON 1011Steven SuranovicFall

## ECON 1011 Study Guide - Fall 2018, Comprehensive Midterm Notes - Graph Of A Function, Compact Cassette, Indifference Curve

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Deductive reasoning- if x, then y. assumptions leading to conclusions. You take a set of assumptions and principles that you believe to be true and val
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Study Guide - Fall 2018, Comprehensive Midterm Notes - Demand Curve, Graph Of A Function, Economic Equilibrium

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Slope: the relationship between the variables on the horizontal and vertical axis (eg. price and quantity) Giving up fun to increase your gpa: no relat
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Study Guide - Fall 2018, Comprehensive Midterm Notes - Graph Of A Function, Demand Curve, Stretch Fabric

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Slope: the relationship between the variables on the horizontal and vertical axis (eg. price and quantity) Giving up fun to increase your gpa: no relat
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GWUECON 1011AllFall

## ECON 1011 Quiz: ECON 1011 Quiz 1 2013

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GWUECON 1011AllFall

## ECON 1011 Study Guide - Quiz Guide: George Washington University, Midpoint Method, Demand Curve

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The george washington university department of economics econ 1011: principles of microeconomics prof. irene r. foster quiz iii 45 points show your wor
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GWUECON 1011AllFall

## ECON 1011 Study Guide - Quiz Guide: George Washington University, Friedrich Hayek, Marginal Utility

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GWUECON 1011AllFall

## ECON 1011 Study Guide - Midterm Guide: George Washington University, Marginal Revenue, Omics

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Important please read: to receive partial credit, show your work when solving problems, you will lose points for missing signs and units, cell phones m
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## Trending

Frequently-seen exam questions from 2014 - 2018.
GWUECON 1011AllFall

## ECON 1011 Final: GWU - ECON 1011 Final Exam 2017 Summer Solutions

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GWUECON 1011AllFall

## ECON 1011 Midterm: ECON 1011 Final Exam 2012 Fall Solutions

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Do not open until asked to do so. Important please read: to receive partial credit, show your work when solving problems. You will lose points for miss
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GWUECON 1011AllFall

## ECON 1011 Study Guide - Quiz Guide: George Washington University, Midpoint Method, Demand Curve

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The george washington university department of economics econ 1011: principles of microeconomics prof. irene r. foster quiz iii 45 points show your wor
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GWUECON 1011AllFall

## ECON 1011 Quiz: ECON 1011 Quiz 3 2011 Fall

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GWUECON 1011AllFall

## ECON 1011 Study Guide - Midterm Guide: George Washington University, Price Support, Laffer Curve

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GWUECON 1011AllFall

## ECON 1011 Study Guide - Quiz Guide: George Washington University, Substitute Good, Comparative Advantage

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GWUECON 1011AllFall

## ECON 1011 Study Guide - Quiz Guide: George Washington University, Substitute Good, Perfect Competition

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GWUECON 1011AllFall

## ECON 1011 Quiz: ECON 1011 Quiz 1 2013

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GWUECON 1011AllFall

## ECON 1011 Study Guide - Quiz Guide: George Washington University, Absolute Advantage, Comparative Advantage

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GWUECON 1011AllFall

## ECON 1011 Study Guide - Midterm Guide: George Washington University, Pareto Efficiency, Invisible Hand

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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 30: Productive Efficiency

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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 29: Pigovian Tax, Coase Theorem, Demand Curve

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GWUECON 1011Daniel MacKayFall

## ECON 1011 Study Guide - Final Guide: Absolute Advantage, Comparative Advantage, Opportunity Cost

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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 28: Monopolistic Competition, Perfect Competition, Demand Curve

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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 27: Marginal Revenue, Demand Curve, Economic Surplus

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Monopoly: one seller & large number of buyers, no entry (homogenous goods) (not required) (perfect information) (not required) Slope of tr (a straight
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 25: Marginal Revenue, Comparative Statics, Marginal Utility

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Using comparative statics, we can see that the supply curve = mc curve, while the demand curve = mb curve. The last unit exchanged will be where mc = m
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 24: Demand Curve, Marginal Revenue, Statics

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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 23: Demand Curve, Marginal Revenue, Statics

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The market supply curve is the summation of the marginal cost curves of all the firms in the market above the shutdown price. Requirements: large numbe
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 22: Marginal Revenue, Opportunity Cost, Marginal Cost

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The revenue earned by increasing sales by one product. Breaking even: accounting profit, economics profit, all about opportunity cost. Eg. you graduate
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture 21: ECON 1011 Lecture : Long Run Costs, Economies of Scale & Revenue Curve

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GWUECON 1011Daniel MacKayFall

## ECON 1011 Study Guide - Fall 2018, Comprehensive Midterm Notes - Demand Curve, Graph Of A Function, Economic Equilibrium

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Slope: the relationship between the variables on the horizontal and vertical axis (eg. price and quantity) Giving up fun to increase your gpa: no relat
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Study Guide - Fall 2018, Comprehensive Midterm Notes - Graph Of A Function, Demand Curve, Stretch Fabric

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Slope: the relationship between the variables on the horizontal and vertical axis (eg. price and quantity) Giving up fun to increase your gpa: no relat
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 19: Average Variable Cost, Average Cost, Marginal Cost

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Eg. if tc = 16 + q2 and vc = q2. Since tc = fc + vc, fc = tc vc. Therefore 16 + q2 q2 = 16 = fc. Note: fixed cost has no impact on marginal cost as the
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 18: Fixed Cost, Variable Cost, Marginal Product

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Types of costs: fixed cost (fc) fixed input, capital gives us our fixed cost (k gives fc) (also shown as r = rent, variable cost (vc) variable input. L
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 17: Fixed Cost, Variable Cost, Marginal Product

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Types of inputs: fixed input, do not change with the quantity produced, we call them capital (shown as k , variable input, changes based on the quantit
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 16: Demand Curve, Lead, Fixed Cost

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There is no change in price for donuts, therefore we cannot identify the demand curve for donuts. Therefore, we can only identify the demand curve from
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 14: Budget Constraint

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We know that due to the allocation of all money, pxx + pyy = m. In this case, 2x + 3y = 20. In this case, for #1, x provides more utility, therefore on
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 12: Marginal Utility, Demand Curve

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Demand curve and elasticity: on a graph for p, where the maximum value of q is a, is unit elastic, the part of the line above (cid:2870) is elastic, an
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 11: Demand Curve, Qi, Normal Good

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Spectrum of sensitivity: the above graphs show 2 extremes in the spectrum. Therefore 13 is the point elasticity at point (3,9) (p = 3, q = 9). If = 1,
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture 9: ECON 1011 - Lecture #9 - Tax (continued) & Elasticity

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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 8: Price Floor, Demand Curve

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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 7: Economic Equilibrium, Economic Surplus, Deadweight Loss

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The difference between what an agent pays for a good and what an agent would have been willing to pay for a good. (eg. paying . 75 for a bottle of wate
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 5: Poncho, Kfc, Normal Good

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Factors that shift demand: preferences, price of a related good, substitutes, eg. If the price of tea increases, the demand of coffee is expected to in
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 6: Demand Curve, Whopper, Quarter Pounder

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Change in supply vs change in quantity supplied: change in quantity supplied is affected by change in number of consumers, change in supply is affected
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 4: Demand Curve, Gotland Regiment

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Shows the relationship between the price of a good and the quantity of a good that is wanted/demanded. (individual) demand curve. Shows the relationshi
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 3: Dd National, Opportunity Cost

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We would usually talk about the benefits of trade compared to the benefits of specialization. For barneyville: before trade, fredistan produces 6 bb an
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 1: Dependent And Independent Variables, Mercantilism

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Slope: the relationship between the variables on the horizontal and vertical axis (eg. price and quantity) Giving up fun to increase your gpa: no relat
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 2: Absolute Advantage, Comparative Advantage, Opportunity Cost

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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture Notes - Lecture 24: Price Gouging, Monopsony, Economic Surplus

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2 ways to deal with a gasoline shortage: no price increases (price gouging laws enforced) Some people who wait long in line get a small amount of gas.
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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture 23: Lecture 20 Government Policies

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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture 22: Econ Lecture 19 Effects on International Trade and Tariffs

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Lecture 19: effects on international trade and tarrifs. Both sides are giving up some of their surplus value for tax. Less on consumers, more on produc
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GWUECON 1011Steven SuranovicFall

## ECON 1011 Study Guide - Fall 2018, Comprehensive Midterm Notes - Graph Of A Function, Compact Cassette, Indifference Curve

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Deductive reasoning- if x, then y. assumptions leading to conclusions. You take a set of assumptions and principles that you believe to be true and val
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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture Notes - Lecture 21: Sherman Antitrust Act, Airbnb, Competition Law

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Lecture 18 - government policies: taxes and subsidies. Utilitarian notions of ethics- maximize the sum total well-being of the community: economically
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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture Notes - Lecture 20: Oligopsony, Variety Store, Monopsony

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Perfect competition: many many consumers in the market. Incumbent firm (original firms) profit face reduction of profit. Distinguishing your good: uniq
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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture 19: Lecture 16 Market Measurements & Changes

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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture 18: Lecture 15: Theory of Market Supply

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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture Notes - Lecture 16: Marginal Cost, Fixed Cost

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Supply functions in markets are given by the summation of the marginal cost curves. Adding up all these firms inverse marginal costs will get us the ma
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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture Notes - Lecture 15: Taipei Metro, Marginal Revenue, Marginal Cost

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Each one cannot affect the market price, due to how many firms there are. Each one is an infinitesimal supplier to the marketplace. All firms are ident
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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture Notes - Lecture 14: Marginal Revenue, Oligopoly, Market Power

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More than two firms in the marketplace that all produce a similar product. When there is an oligopoly, they have market power which means that they are
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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture Notes - Lecture 11: Taipei Metro, Economic Surplus, Marginal Revenue Productivity Theory Of Wages

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Monopoly can influence price and quantity of produced goods in the market. Example: most hotels (with different names) are operated by the same overall
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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture Notes - Lecture 10: Opportunity Cost, Fixed Cost, Variable Cost

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Require capital (machinery, equipment, inputs into the production process) Natural resources used to produce a physical product. Profit- owners are alw
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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture Notes - Lecture 9: Economic Surplus, Demand Curve

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Lecture 9 - demand elasticities, and consumer surplus. Price elasticity of demand and ped at point on demand curve. Note that absolute value keeps the
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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture Notes - Lecture 8: Budget Constraint, Indifference Curve

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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture Notes - Lecture 3: Marginal Utility

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Deductive reasoning- if x, then y. assumptions leading to conclusions. You take a set of assumptions and principles that you believe to be true and val
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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture Notes - Lecture 7: Edgeworth Box, Opportunity Cost, Autarky

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* all visuals are from online lecture notes, econ 1011. Production possibilities depend on his personal preferences, represented by his difference curv
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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture 6: Production, Trade, and Comparative Advantage

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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture Notes - Lecture 5: Marginal Utility, Perfect Information

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Along all other assumptions of a perfect exchange model, smith and jones are self interested individuals. They care about their own utility, that"s wha
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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture Notes - Lecture 4: Indifference Curve, Pareto Efficiency, Edgeworth Box

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Pure exchange model- both people gain benefit from trade, in the context of this model. The assumptions are incorporated and we are assuming the follow
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## Popular Professors

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## Popular Class Notes

GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 7: Economic Equilibrium, Economic Surplus, Deadweight Loss

OC25110595 Page
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The difference between what an agent pays for a good and what an agent would have been willing to pay for a good. (eg. paying . 75 for a bottle of wate
View Document
GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 30: Productive Efficiency

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0
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 19: Average Variable Cost, Average Cost, Marginal Cost

OC25110594 Page
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Eg. if tc = 16 + q2 and vc = q2. Since tc = fc + vc, fc = tc vc. Therefore 16 + q2 q2 = 16 = fc. Note: fixed cost has no impact on marginal cost as the
View Document
GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 16: Demand Curve, Lead, Fixed Cost

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There is no change in price for donuts, therefore we cannot identify the demand curve for donuts. Therefore, we can only identify the demand curve from
View Document
GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture 21: ECON 1011 Lecture : Long Run Costs, Economies of Scale & Revenue Curve

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0
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 25: Marginal Revenue, Comparative Statics, Marginal Utility

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Using comparative statics, we can see that the supply curve = mc curve, while the demand curve = mb curve. The last unit exchanged will be where mc = m
View Document
GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 18: Fixed Cost, Variable Cost, Marginal Product

OC25110596 Page
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Types of costs: fixed cost (fc) fixed input, capital gives us our fixed cost (k gives fc) (also shown as r = rent, variable cost (vc) variable input. L
View Document
GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 27: Marginal Revenue, Demand Curve, Economic Surplus

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0
Monopoly: one seller & large number of buyers, no entry (homogenous goods) (not required) (perfect information) (not required) Slope of tr (a straight
View Document
GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 23: Demand Curve, Marginal Revenue, Statics

OC25110595 Page
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The market supply curve is the summation of the marginal cost curves of all the firms in the market above the shutdown price. Requirements: large numbe
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GWUECON 1011Daniel MacKayFall

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## Popular Textbook Notes

GWUECON 1011Suranovic SteveFall

## ECON 1011 Chapter Notes - Chapter Text 3: Bloomington, Indiana, Tacit Assumption, Inductive Reasoning

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Standard approach in economics use deductive or inductive reasoning. Deductive reasoning set of assumptions and use these to figure out certain outcome
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GWUECON 1011Suranovic SteveFall

## ECON 1011 Chapter Notes - Chapter 9: Demand Curve, Negative Number, Inferior Good

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Reasons for elasticities assigning magnitudes to the price-quantity relationships. Inelastic no matter what the price is, people will still relatively
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GWUECON 1011Yezer AnthonyFall

## ECON 1011 Chapter Notes - Chapter 10: Marginal Revenue Productivity Theory Of Wages, Diminishing Returns, Marginal Revenue

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Derived demand, complementary and substitutable inputs, diminishing returns, and marginal revenue product. High productivity when a large amount of out
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GWUECON 1011Suranovic SteveFall

## ECON 1011 Chapter Notes - Chapter 10: Process Function, Comparative Advantage, Production Function

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A firm is an organization created to produce goods good for firm when they sell products. There is a legal structure: sole proprietorship. One individu
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GWUECON 1011Suranovic SteveFall

## ECON 1011 Chapter Notes - Chapter 5: Necessity And Sufficiency

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The assumptions of the pure exchange model (self-interest, mutually voluntary exchange, perfect information) imply that the individuals have ethics and
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GWUECON 1011Yezer AnthonyFall

## ECON 1011 Chapter 6: Chapter 6: Household Behavior and Consumer Choice

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Constrained choice: the decisions we make under constraints that exist in the marketplace. Every household must make three basic decisions: how much of
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GWUECON 1011Suranovic SteveFall

## ECON 1011 Chapter Notes - Chapter 14: Perfect Competition, Market Price, Marginal Cost

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Individual firm supply in the short run the quantity from the marginal cost curve for all prices above minimum avc: = 0 when p < min avc. The firm lose
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GWUECON 1011Suranovic SteveFall

## ECON 1011 Chapter Notes - Chapter 8: Inferior Good, Complementary Good, Substitute Good

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Market demand for a certain good is the sum of all people"s demands: it is hypothetical what people would wish to buy. The quantity demand (qd) for a g
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GWUECON 1011Suranovic SteveFall

## ECON 1011 Chapter Notes - Chapter 6-7: Edgeworth Box, Invisible Hand, Autarky

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Production is a complicated process to produce a fruit, need workers to tend the trees, harvest, manage, and capital. Smith can spend his day producing
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GWUECON 1011Yezer AnthonyFall

## ECON 1011 Chapter Notes - Chapter 11: Capital Market, Financial Capital, Social Capital

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Input demand: the capital market and the investment decision. In capital market, households indirectly supply financial resources necessary for firms t
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## Most Popular

Your classmatesâ€™ favorite documents.
GWUECON 1011Suranovic SteveFall

## [ECON 1011] - Midterm Exam Guide - Ultimate 21 pages long Study Guide!

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Deductive reasoning vs. inductive reasoning: deductive if (x) then (y) (assumptions conclusions, inductive if we observe y then x could explain it (y =
View Document
GWUECON 1011Irene FosterFall

## [ECON 1011] - Midterm Exam Guide - Everything you need to know! (15 pages long)

OC137516215 Page
6
Economics is the study of the choices made by economic agents (individuals or groups) Consumers as a whole, firms, industries, governments. All these c
View Document
GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 7: Economic Equilibrium, Economic Surplus, Deadweight Loss

OC25110595 Page
0
The difference between what an agent pays for a good and what an agent would have been willing to pay for a good. (eg. paying . 75 for a bottle of wate
View Document
GWUECON 1011Suranovic SteveFall

## [ECON 1011] - Final Exam Guide - Everything you need to know! (52 pages long)

OC108728152 Page
27
Deductive reasoning vs. inductive reasoning: deductive if (x) then (y) (assumptions conclusions, inductive if we observe y then x could explain it (y =
View Document
GWUECON 1011Daniel MacKayFall

## ECON 1011 Study Guide - Final Guide: Absolute Advantage, Comparative Advantage, Opportunity Cost

OC251105925 Page
0
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Study Guide - Fall 2018, Comprehensive Midterm Notes - Demand Curve, Graph Of A Function, Economic Equilibrium

OC251105932 Page
0
Slope: the relationship between the variables on the horizontal and vertical axis (eg. price and quantity) Giving up fun to increase your gpa: no relat
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 30: Productive Efficiency

OC25110593 Page
0
View Document
GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 19: Average Variable Cost, Average Cost, Marginal Cost

OC25110594 Page
0
Eg. if tc = 16 + q2 and vc = q2. Since tc = fc + vc, fc = tc vc. Therefore 16 + q2 q2 = 16 = fc. Note: fixed cost has no impact on marginal cost as the
View Document
GWUECON 1011Daniel MacKayFall

## ECON 1011 Study Guide - Fall 2018, Comprehensive Midterm Notes - Graph Of A Function, Demand Curve, Stretch Fabric

OC251105969 Page
0
Slope: the relationship between the variables on the horizontal and vertical axis (eg. price and quantity) Giving up fun to increase your gpa: no relat
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GWUECON 1011AllFall

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## Most Recent

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GWUECON 1011FosterFall

## ECON 1011 Lecture Notes - Lecture 4: William Jennings Bryan, Money Supply

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Benefits: taking away discretion from central banks, more volatility year-to-year, fixed exchange rates, good or bad, stable inflation, true over long
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GWUECON 1011FosterFall

## ECON 1011 Lecture Notes - Lecture 6: Liquidationism, Franklin D. Roosevelt, Speculative Attack

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GWUECON 1011FosterFall

## ECON 1011 Lecture Notes - Lecture 2: Walter Bagehot

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Bank of england was doing a lot of this type of activity and they became very good at it. And as we"ll see, while the united states was suffering with
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GWUECON 1011FosterFall

## ECON 1011 Lecture Notes - Lecture 3: New York Clearing House, Speculative Attack, Monetary System

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GWUECON 1011FosterFall

## ECON 1011 Lecture Notes - Lecture 1: European Central Bank, Federal Funds Rate, Financial Regulation

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GWUECON 1011FosterFall

## ECON 1011 Lecture Notes - Lecture 5: Roaring Twenties, Creditanstalt

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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 30: Productive Efficiency

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GWUECON 1011Daniel MacKayFall

## ECON 1011 Study Guide - Final Guide: Absolute Advantage, Comparative Advantage, Opportunity Cost

OC251105925 Page
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GWUECON 1011Daniel MacKayFall

## ECON 1011 Lecture Notes - Lecture 29: Pigovian Tax, Coase Theorem, Demand Curve

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0
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GWUECON 1011Steven SuranovicFall

## ECON 1011 Lecture Notes - Lecture 24: Price Gouging, Monopsony, Economic Surplus

OC25190813 Page
0
2 ways to deal with a gasoline shortage: no price increases (price gouging laws enforced) Some people who wait long in line get a small amount of gas.
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