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Class Notes for Avi Cohen

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UTSGECO105Y1Avi CohenFall

ECO105Y1 Lecture Notes - Lecture 1: Opportunity Cost, Macroeconomics, Unintended Consequences

OC11785502 Page
28 Sep 2016
15
Please visit this week warmup. utoronto. ca to complete the exercise, for 2 percent of your final course grade. You will answer questions about persona
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UTSGECO105Y1Avi CohenFall

ECO105Y1 Lecture Notes - Lecture 11: Passive Smoking, Social Cost, Marginal Cost

OC8006265 Page
15 Jan 2017
2
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UTSGECO105Y1Avi CohenSpring

ECO105Y1 Lecture Notes - Lecture 11: Passive Smoking, Social Cost, Externality

OC21347975 Page
20 Mar 2018
0
When externalities exist, prices don"t reflect all social costs and benefits; markets fail to coordinate private smart choices with soci al smart choic
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UTSGECO105Y1Avi CohenFall

ECO105Y1 Lecture Notes - Lecture 12: Marginal Revenue Productivity Theory Of Wages, Marginal Revenue, Economic Rent

OC8006265 Page
15 Jan 2017
4
Incomes are determined by prices and quantities in input markets, where households supply business labor, capital, land, and entrepreneurship in exchan
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UTSGECO105Y1Avi CohenSpring

ECO105Y1 Lecture Notes - Lecture 20: Joseph Stiglitz, Thomas Babington Macaulay, Anti-Globalization Movement

OC21347975 Page
22 Mar 2018
0
Opportunity cost and comparative advantage are key to understanding why specializing and trading makes us all better off. Exports & imports as percenta
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UTSGECO105Y1Avi CohenSpring

ECO105Y1 Lecture Notes - Lecture 10: Bid Rigging, Price Fixing, Caveat Emptor

OC21347975 Page
20 Mar 2018
0
Natural monopolies are a market-failure challenge for policymakers. Gain the low-cost efficiencies of economies of scale, but avoid t he inefficiencies
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UTSGECO105Y1Avi CohenFall

ECO105Y1 Lecture Notes - Lecture 7: Writing Center, Risk Compensation, Opportunity Cost

OC11785504 Page
11 Jan 2017
1
Create more equitable outcomes, even though the trade-off is less efficiency. Unwilling-because marginal benefit is less than price (even though could
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UTSGECO105Y1Avi CohenSpring

ECO105Y1 Lecture Notes - Lecture 1: John Maynard Keynes, Asteroid Family, Global Warming

OC21347975 Page
20 Mar 2018
0
Because you can never satisfy all of your wants, making the most out of your life requires smart choices about what to go after, and what to give up. T
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UTSGECO105Y1Avi CohenSpring

ECO105Y1 Lecture Notes - Lecture 2: Normal Good, Marginal Utility, Demand Curve

OC21347973 Page
20 Mar 2018
0
Your willingness to buy a product or service depends on your ability to pay, comparative benefits and costs, and the availability of subs titutes. Dema
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UTSGECO105Y1Avi CohenSpring

ECO105Y1 Lecture Notes - Lecture 6: Working Poor, Efficient-Market Hypothesis, Opportunity Cost

OC21347975 Page
20 Mar 2018
0
When government fixes prices, the smart choices of consumers and bus inesses are not coordinated. Shortages develop quantity demanded > quantity suppli
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UTSGECO105Y1Avi CohenSpring

ECO105Y1 Lecture Notes - Lecture 7: Moving Company, Risk Compensation, Economic Equilibrium

OC21347975 Page
20 Mar 2018
0
Accounting profits equal revenues minus all obvious costs, including depreciation. But accounting profits miss the hidden, implicit oppor tunity costs
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UTSGECO105Y1Avi CohenSpring

ECO105Y1 Lecture Notes - Lecture 15: Potential Output, Phillips Curve, Business Cycle

OC21347977 Page
22 Mar 2018
0
The unemployment rate measures the percentage of the labour force wh: are out of work and actively searching for jobs, but misses involu ntary part-tim
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