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RUTGERS01:220:102Daijiro OkadaFall

[01:220:102] - Final Exam Guide - Comprehensive Notes for the exam (40 pages long!)

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RUTGERS01:220:102ElgawlyFall

[01:220:102] - Final Exam Guide - Ultimate 40 pages long Study Guide!

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RUTGERS01:220:102Alexandre HohmannSpring

[01:220:102] - Final Exam Guide - Everything you need to know! (29 pages long)

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Economy: system for coordinating productive activities that create the goods and services people want and get them to the people who want them. Economi
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RUTGERS01:220:102J A C K SkydelFall

01:220:102- Final Exam Guide - Comprehensive Notes for the exam ( 36 pages long!)

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Increasing marginal returns occur when the marginal product of an additional worker exceeds the marginal product of the previous worker. Occurs when a
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RUTGERS01:220:102W O N H Y U N G LeeFall

01:220:102- Final Exam Guide - Comprehensive Notes for the exam ( 23 pages long!)

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Understanding the principles of how individuals make choices. Understanding how economies work through the interaction of individual choices. A set of
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RUTGERS01:220:102ElgawlyFall

01:220:102 Study Guide - Comprehensive Final Guide: Determinant, Coffee Bean, Solyndra

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Economics (okionomia in greek) = household management/management of affairs. Economics = science concerned with aspects of social behaviors and institu
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RUTGERS01:220:102Alex HohmannFall

[01:220:102] - Final Exam Guide - Ultimate 70 pages long Study Guide!

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Individual choice - is the decision by an individual of what to do, which necessarily involves a decision of what not to do. Resource - anything that c
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RUTGERS01:220:102Alex HohmannFall

01:220:102 Study Guide - Comprehensive Final Guide: Cash Register, Pre-Medical, Out Of Line Music

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Economics: principle 1: choices are necessary because resources are. Scare: a resource is anything that can be used to produce something, a resource is
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RUTGERS01:220:102J.SkydelSpring

01:220:102- Final Exam Guide - Comprehensive Notes for the exam ( 30 pages long!)

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Earth, when we should be making choices in the social interest. Positive: normative statements: statements about what ought to be, positive statements:
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RUTGERS01:220:102Alex HohmannFall

[01:220:102] - Final Exam Guide - Comprehensive Notes fot the exam (22 pages long!)

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RUTGERS01:220:102AllFall

01:220:102 Study Guide - Midterm Guide: Autarky, North American Free Trade Agreement, Oligopoly

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Tc = fc + vc: physical capital, total cost, pooling, total product curve, the change in utility from consuming an additional unit. Market power: financ
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RUTGERS01:220:102AllFall

01:220:102 Study Guide - Midterm Guide: Fixed Cost, Consumer Choice, Demand Curve

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Use the following to answer question 1: (total product and marginal product) look at the table total product and marginal. The marginal product of the
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RUTGERS01:220:102AllFall

01:220:102 Study Guide - Quiz Guide: Long Term Ecological Research Network, Oligopoly, Rationality

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94 multiple choice questions: customer is required to buy one product only if the customer also buys a second product. Supply inelastic (e. g. skilled
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RUTGERS01:220:102AllFall

01:220:102 Study Guide - Midterm Guide: Diminishing Returns, Economic Surplus, Music Download

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Name: ___________________________________ date: _____________: suppose the marginal cost curve in the short run first decreases, then reaches a minimum
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RUTGERS01:220:102AllFall

01:220:102 Study Guide - Midterm Guide: Demand Curve, Household Income, Inferior Good

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Name: ___________________________________ date: _____________: sarah"s autoshop reports that their marginal cost, no matter their level of production,
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RUTGERS01:220:102AllFall

01:220:102 Study Guide - Midterm Guide: Economic Surplus, Deadweight Loss, Tax Rate

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1: (figure: the market for yachts) look at the figure the market for yachts. Use the following to answer question 5: (total product and marginal produc
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RUTGERS01:220:102AllFall

01:220:102 Study Guide - Midterm Guide: Peanut Butter, Economic Surplus, Margarine

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Name: ___________________________________ date: _____________: an attorney supplies 40 hours of work per week when her fee is per hour but supplies 60
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RUTGERS01:220:102AllFall

01:220:102 Study Guide - Midterm Guide: Diminishing Returns, Normal Good, Variable Cost

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Derived from many srac: shutdown point, market share, long run average cost, long run, amount of additional utility received given the price of the pro
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RUTGERS01:220:102AllFall

01:220:102 Study Guide - Midterm Guide: French Wine, Midpoint Method, Economic Equilibrium

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Intro micro midterm 1___________________ date: oct. 7, 2014_________ In one hour, japan can produce 30 tons of steel or 275 automobiles. Page 1: french
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RUTGERS01:460:100AllFall

Exam 2

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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 27: Externality, Market Failure, Lection

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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 26: Abstract Window Toolkit, Import Quota

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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 25: Economic Equilibrium

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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 21: Allocative Efficiency, Monopolistic Competition, Productive Efficiency

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Productive efficiency- the equality of price and minimum atc yields productive efficiency. Allocative efficiency - the equality of price and mc yields
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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 20: Tacit Collusion, Nash Equilibrium, Oligopoly

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A decision rule that describes actions a player will take. Representation of a game indicating the players, their strategies, and the payoffs resulting
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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 19: Oligopoly, Marginal Cost, Product Differentiation

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Monopolies are not permanently protected from forces of entry and imitation. The main difference between a competitive firm and a monopoly is the lengt
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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 18: Market Power, Demand Curve, Marginal Revenue

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A firm that is the only producer of a good with no close substitutes. An industry controlled by a monopolist is known as a monopoly. The ability of a f
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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture 17: Market Structure

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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 16: Liquid Oxygen, Cost Curve, Sam Lecure

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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 15: Italian General Confederation Of Labour

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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture 14: ECON 102 Lecture 14 - Decision Making by Individuals and Firms

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Econ 102 lecture 14 - decision making by individuals and firms. Explicit cost is a cost that occurs, is easily identified, and is accounted for in busi
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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 4: Demand Curve, The Graphic, Economic Equilibrium

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Econ 102 lecture 4 - supply and demand. A competitive market has many buyers and sellers of the same good or service, none of whom can influence the pr
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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 1: Profit Motive, Opportunity Cost, The Incentive

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Economics - comes from the greek word "okionomia", which roughly translates to "household management" Economics is a social science, which is analyzes
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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 2: Opportunity Cost, Demand Curve

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Econ 102 lecture 2 - models and tradeoffs. Simplified representation of a real situation that is used to better understand real-life situations. Steps:
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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 10: Sales Tax, Tax Bracket, Payroll Tax

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Progressive - income rises, so do average tax rates. Regressive - income rises, average tax declines. Proportional - income rises, average tax stays th
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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 27: Externality, Market Failure, Lection

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0
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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 21: Allocative Efficiency, Monopolistic Competition, Productive Efficiency

OC25511032 Page
0
Productive efficiency- the equality of price and minimum atc yields productive efficiency. Allocative efficiency - the equality of price and mc yields
View Document
RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture 14: ECON 102 Lecture 14 - Decision Making by Individuals and Firms

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0
Econ 102 lecture 14 - decision making by individuals and firms. Explicit cost is a cost that occurs, is easily identified, and is accounted for in busi
View Document
RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 1: Profit Motive, Opportunity Cost, The Incentive

OC25511032 Page
0
Economics - comes from the greek word "okionomia", which roughly translates to "household management" Economics is a social science, which is analyzes
View Document
RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 25: Economic Equilibrium

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0
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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 4: Demand Curve, The Graphic, Economic Equilibrium

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0
Econ 102 lecture 4 - supply and demand. A competitive market has many buyers and sellers of the same good or service, none of whom can influence the pr
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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 26: Abstract Window Toolkit, Import Quota

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RUTGERS01:220:102goldbandFall

01:220:102 Lecture Notes - Lecture 17: Average Variable Cost, Perfect Competition, Fixed Cost

We use economic profits, which includes implicit costs. It is normal for a firm"s economic fromit to be zero. If tr > tc, the firm is profitable. If tr
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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 10: Sales Tax, Tax Bracket, Payroll Tax

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0
Progressive - income rises, so do average tax rates. Regressive - income rises, average tax declines. Proportional - income rises, average tax stays th
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RUTGERS01:220:102ElgawlyFall

01:220:102 Lecture Notes - Lecture 19: Oligopoly, Marginal Cost, Product Differentiation

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0
Monopolies are not permanently protected from forces of entry and imitation. The main difference between a competitive firm and a monopoly is the lengt
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RUTGERS01:220:102HohmannFall

01:220:102 Chapter 1: Chapter 1 First Principles pg 4

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RUTGERS01:220:102Surabhi KadambeFall

01:220:102 Chapter Notes - Chapter 2: Rent Regulation

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RUTGERS01:220:102HohmannFall

01:220:102 Chapter 1: Chapter 1 First Principles pg 3

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RUTGERS01:220:102HohmannFall

01:220:102 Chapter 1: Chapter 1 First Principles pg 1

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RUTGERS01:220:102HohmannFall

01:220:102 Chapter 2: Chapter 2 Economic Models pg 1

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RUTGERS01:220:102HohmannFall

01:220:102 Chapter 2: Chapter 2 Economic Models pg 2

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RUTGERS01:220:102HohmannFall

01:220:102 Chapter 2: Chapter 2 Eocnomic Models pg 4

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RUTGERS01:220:102HohmannFall

01:220:102 Chapter 5: ch 5 pg 4

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RUTGERS01:220:102HohmannFall

01:220:102 Chapter 7: ch 7 pg 3

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RUTGERS01:220:102HohmannFall

01:220:102 Chapter 1: Chapter 1 First Principles pg 6

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01:220:102 Study Guide - Final Guide: Federal Open Market Committee, Open Market Operation, Federal Funds Rate

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RUTGERS01:220:102AllFall

01:220:102 Study Guide - Midterm Guide: Diminishing Returns, Economic Surplus, Music Download

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Name: ___________________________________ date: _____________: suppose the marginal cost curve in the short run first decreases, then reaches a minimum
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RUTGERS01:220:102Alex HohmannFall

[01:220:102] - Final Exam Guide - Ultimate 70 pages long Study Guide!

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Individual choice - is the decision by an individual of what to do, which necessarily involves a decision of what not to do. Resource - anything that c
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RUTGERS01:220:102Alex HohmannFall

01:220:102 Study Guide - Comprehensive Final Guide: Cash Register, Pre-Medical, Out Of Line Music

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RUTGERS01:220:102M.ElgawlySpring

01:220:102 Study Guide - Final Guide: Nash Equilibrium, Game Theory, Strategic Dominance

As it relates to dominant strategy and nash equilibrium. The study of behavior in situations of interdependence; a way of predicting outcomes in strate
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RUTGERS01:220:102M.ElgawlySpring

01:220:102 Study Guide - Final Guide: Economic Equilibrium, Demand Curve

Increase in the price of one good increases demand for the other. The decrease in the price of one good will decrease demand for the other. If pepsi pr
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RUTGERS01:220:102M.ElgawlySpring

01:220:102 Study Guide - Final Guide: Marginal Cost, Fixed Cost, Diminishing Returns

A cost that does not depend on the quantity of output produced. It is the cost of the fixed input. A cost that does not vary with output. A cost that d
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RUTGERS01:220:102M.ElgawlySpring

01:220:102 Final: Comparative Advantage

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01:220:102 Final: Unit 3 Notes for Exam

Means-tested program- benefitting only individuals and families whose income falls below a certain level. In-kind payment- a benefit in the form of goo
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RUTGERS01:220:102M.ElgawlySpring

01:220:102 Final: Unit 3_ Public Goods and Common Resources

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01:220:102 Study Guide - Final Guide: Offshore Outsourcing, Import Quota, Sweatshop

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RUTGERS01:220:102M.ElgawlySpring

01:220:102 Final: Unit 3 Notes

Unit 3 notes: most of what the final is going to be on. Countries will specialize in goods they can produce more cheaply than other countries (lower op
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