ECON15269G-CO4 Lecture Notes - Lecture 8: Monopolistic Competition, Perfect Competition, Economic Equilibrium
4 Dec 2017
School
Department
Course
Professor
Document Summary
You can have a look at your quizzes. I may have been too generous on some questions. The second half is only 5 chapters, whereas the first half had 6. The second half is much easier than the first half. If you didn"t do well in the first half, you can pick it up in the back half. The final test will be just the last 5 chapters. There isn"t anything as difficult as the elasticity/inelasticity, etc. So after today, there is only 4 chapters, a review class, then the final, and then summer. Chapter 6 we saw how demand and supply interacted, and how they interacted to pricing. We weren"t talking about any types of markets. Today, we"ll talk about how we determine pricing. This was the equilibrium price, so chapter 7 will talk about how we determine pricing. We"re going to go from extremely competitive then concentrated industries.
