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Class Notes for Economics at McMaster University

Economics
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ECON 1B03 Lecture 1: Ch.7 A1
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Chapter 7 The Production Function Profit - Profit, , is ...

Economics
ECON 1B03
Hannah Holmes
ECON 1B03 Lecture 3: Ch7 B
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TP is maximized when the slope of MP = 0 Average Product AP tells...

Economics
ECON 1B03
Hannah Holmes
ECON 1B03 Lecture 7: Ch7 F
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If Jerry wanted to produce the Quantity at the red line, he is bet...

Economics
ECON 1B03
Hannah Holmes
ECON 1B03 Lecture 2: Ch7 A2
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Inputs (resources) into Production - Fixed inputs: inputs t...

Economics
ECON 1B03
Hannah Holmes
ECON 1B03 Lecture 4: Ch7 Cdocx
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- Whenever MP is greater than AP, AP is increasing - Whene...

Economics
ECON 1B03
Hannah Holmes
ECON 1B03 Lecture 5: Ch7 D
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Marginal Cost - Jerry now wants to know how much extra it co...

Economics
ECON 1B03
Hannah Holmes
ECON 1B03 Lecture 6: Ch7 E
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About ATC - If the firm is producing such that ATC is minim...

Economics
ECON 1B03
Hannah Holmes
ECON 1B03 Lecture 10: Ch 5-6 k
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Government Policies: Sales Tax Analysis The Deadweight Loss of Taxa...

Economics
ECON 1B03
Hannah Holmes
ECON 1B03 Lecture 3: Ch 5-6 C
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Economic Welfare: Total Surplus and Deadweight Loss Total Surplus =...

Economics
ECON 1B03
Hannah Holmes
ECON 1B03 Lecture 2: Ch 5-6 B
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Producer Surplus Every seller in an economy has a bottom line, a l...

Economics
ECON 1B03
Hannah Holmes
ECON 1B03 Lecture 7: Ch 5-6 H
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Government Policies: Price Controls II Numerical Example The equat...

Economics
ECON 1B03
Hannah Holmes
ECON 1B03 Lecture 8: Ch 5-6 I
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Price Floors can lead to Surplus Production o Surpluses may be sto...

Economics
ECON 1B03
Hannah Holmes
ECON 1B03 Lecture 1: Ch 5-6 A
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Economics Chapter 5 Economic Welfare: Consumer and Producer Surplus...

Economics
ECON 1B03
Hannah Holmes
ECON 1B03 Lecture 6: Ch 5 G
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Common Resources We all share and enjoy common resources with othe...

Economics
ECON 1B03
Hannah Holmes
ECON 1B03 Lecture 4: Ch 5-6 D
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Externalities Externalities: Sometimes there are benefits and cost...

Economics
ECON 1B03
Hannah Holmes
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Take a look at the big picture. This chart covers national income a...

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l e a r n • r e f e r e n c e • r e v i e w permacharts TM ...

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