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ECON1101 (35)

Class Notes for ECON1101 at University of New South Wales

Microeconomics 1

ECON1101 Lecture 5: Chapter 5

Chapter 5: Government Intervention: The Cost of Interfering with Market Forces: Any Government intervention that prevents a market from reaching its equilibrium price must have a negative effect on total surplus. 5.1. Pric...

Economics
ECON1101
Alberto Motta
ECON1101 Lecture Notes - Lecture 4: Apple Juice, Aggregate Supply, Aggregate Demand

Chapter 4: Demand and Supply: An Equilibrium Analysis: 4.1. Demand and Supply Aggregation: Lets say we have two producers of apple juice. Each of them has different supply curves due to differences in their respective pr...

Economics
ECON1101
Alberto Motta
ECON1101 Lecture Notes - Lecture 10: Pay Television, Aggregate Demand, Private Good

Chapter 10 : Public Goods: 10.1. Non-Rivalry and Non-Excludability: - Private goods are rivalrous and excludable. o A good is rivalrous if its consumptions prevents someone else from con...

Economics
ECON1101
Alberto Motta
ECON1101 Lecture Notes - Lecture 2: Marginal Utility, Marginal Cost, Marginal Revenue

Chapter 2: Supply in a Perfectly Competitive Market: 2.1. Supply Curve for an Individual: - The Marginal Benefit of producing a certain unit of a given good is the extra benefit accrued by pro...

Economics
ECON1101
Alberto Motta
ECON1101 Lecture Notes - Lecture 9: Deadweight Loss, Marginal Utility, Demand Curve

Chapter 9 : Externalities: 9.1. Positive Consumption Externality: - A positive consumption externality represents a benefit accrued to someone who is not involved in the consumption of the given good. ...

Economics
ECON1101
Alberto Motta
ECON1101 Lecture Notes - Lecture 6: Economic Equilibrium, Economic Surplus, Autarky

Chapter 6 : International Trade: - Domestic Price represents the equilibrium price that would occur in a country if no international trade is allowed. - World Price represents the equilibrium price on...

Economics
ECON1101
Alberto Motta
ECON1101 Lecture Notes - Lecture 3: Giffen Good, Demand Curve, Inferior Good

Chapter 3: Demand in Perfectly Competitive Markets: 3.1. Demand curve for an Individual: - Utility: This denotes the satisfaction that an individual derives from consuming a given good or taking a certain a...

Economics
ECON1101
Alberto Motta
ECON1101 Lecture Notes - Lecture 2: Risk Management, Consumer Protection, Market Discipline

Table of Contents Week 1 Valuing Liabilities ...................................................................................................................... 3 UAM Chapter 12 Valuing Liabilities ........................

Economics
ECON1101
UNSW Actuarial
ECON1101 Lecture Notes - Lecture 8: Average Variable Cost, Deadweight Loss, Economic Equilibrium

Week 8 Revision Questions Question 1 If a perunit tax is imposed on producers in a perfectly competitive market, the only curves that will shift upwards are a) the average variable cost and marginal cost curve b) the avera...

Economics
ECON1101
UNSW Economic
ECON1101 Lecture Notes - Lecture 3: Absolute Advantage, Comparative Advantage, Opportunity Cost

Week 3 Revision Questions Answers Question 1 Assume that there are only two countries in the world and they produce two goods, cars and cotton. The opportunity cost of a car in Country A is 50 units of cotton and the oppo...

Economics
ECON1101
UNSW Economic
ECON1101 Lecture Notes - Lecture 8: Economic Equilibrium, Autarky, Market Power
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Week 8 International Trade Saturday, 28 April 2018 7:33 pm The Domestic Price represents the equilibrium price that would occur in a country if no international trade is allowed. The World Price represents the equilibrium...

Economics
ECON1101
All Professors
ECON1101 Lecture Notes - Lecture 9: Demand Curve, Price Discrimination, Marginal Cost
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Week 9 Imperfectly Competitive Markets Monday, 14 May 2018 3:38 pm Imperfect = Perfect except that one or more of the following assumptions apply: Consumerssuppliers are NOT pricetakers, or Goods are NOT homogeneous, or...

Economics
ECON1101
All Professors
ECON1101 Lecture Notes - Lecture 10: Simultaneous Game, Strategic Dominance, Oligopoly
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Week 10 Market Power Oligopoly Monday, 14 May 2018 9:29 pm Oligopoly is a market structure that features a small number of firms. Small number of firms > strategic interactions: The actions of one firm that direct effects...

Economics
ECON1101
All Professors
ECON1101 Lecture Notes - Lecture 10: Pay Television, Marginal Cost, Externality
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Wednesday, 3 May 2017 Microeconomics Public Goods Examples: Education Health system National defence Judiciary system NonRivalry: One individuals consumption of that good does not impede the simultaneous consumption of a...

Economics
ECON1101
All Professors
ECON1101 Lecture Notes - Lecture 9: Demand Curve, Marginal Cost, Inferior Good
Premium

Wednesday, 15 March 2017 Microeconomics Perfectly Competitive Markets Utility: Satisfaction that an individual derives from consuming a given good or taking a certain action measured in utils Decreasing Marginal Utility...

Economics
ECON1101
All Professors
Permachart - Marketing Reference Guide: Net Asset Value, Mutual Fund, U.S. Securities And Exchange Commission

l e a r n • r e f e r e n c e • r e v i e w permacharts TM Mutual Funds WHAT IS A MUTUAL FUND? PURCHASING & REDEE...

Biology
BIOL2721
All Professors
Macroeconomics - Reference Guides

Take a look at the big picture. This chart covers national income accounting, inflation, consumption, economic growth, money supply, labor markets, monetary policy, international trade, supply side economics, and fiscal po...

Business and Political Economy Program
BPEP-UB 2
All Professors
Permachart - Marketing Reference Guide: Marginal Revenue, Profit Maximization, Marginal Cost

l e a r n • r e f e r e n c e • r e v i e w permacharts TM Microeconomics Microeconomics TYPES OF MARKETS ...

E-Business Marketing
ECN 102
All Professors
Permachart - Marketing Reference Guide: National Environmental Policy Act, Municipal Solid Waste, Criteria Air Contaminants

l e a r n • r e f e r e n c e • r e v i e w permacharts TM EEnvironmental Law ENVIRONMENTAL REGULATION NATIONAL ENVIRONMENTAL POL...

LAW
LAW 356
All Professors

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