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Class Notes for Michael Parkin

WESTERNECON 1021A/BMichael ParkinFall

Economics 1021A/B Lecture 1: Lecture 1

OC5104882 Page
24 Oct 2015
33
Microeconomics is the study of individuals and businesses. The economic problem: opportunity costs the best alternative foregone the value that you cou
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WESTERNECON 1021A/BMichael ParkinFall

Economics 1021A/B Lecture Notes - Lecture 12: Lorenz Curve, Proportional Tax, Gini Coefficient

OC5104883 Page
11 Dec 2015
80
Both wealth and income are distributed unequally, but wealth inequality is much greater than income inequality. Poorest 20 percent earned 5% of total i
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WESTERNECON 1021A/BMichael ParkinFall

Economics 1021A/B Lecture Notes - Lecture 11: Fixed Cost, Variable Cost, Average Cost

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9 Nov 2015
80
After completing chapter 11, i would expect you to be able to complete problems such as the following. These are questions related to this chapter that
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WESTERNECON 1021A/BMichael ParkinFall

Economics 1021A/B Lecture Notes - Lecture 2: Technological Change, Demand Curve, Comparative Advantage

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24 Oct 2015
28
Econ 1021a, lecture 2, wednesday, september 23, 2015. Using graphs, the economic problem, how prices and quantities are determined (demand and supply)
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WESTERNECON 1021A/BMichael ParkinFall

Economics 1021A/B Lecture Notes - Lecture 13: Allocative Efficiency, Market Power, Perfect Competition

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13 Mar 2016
13
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WESTERNECON 1021A/BMichael ParkinFall

Economics 1021A/B Lecture Notes - Lecture 7: Market Power, Perfect Competition, Sunk Costs

OC5104884 Page
29 Oct 2015
19
Three features limit the economic profit it can make: technology, information, and. A technology is any method of producing a good or service. Technolo
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WESTERNECON 1021A/BMichael ParkinFall

Economics 1021A/B Lecture Notes - Lecture 6: W. M. Keck Observatory, Average Cost, Variable Cost

OC5104884 Page
24 Oct 2015
28
How an individual decides how much to buy: Budget line: describes the limits to a household"s consumption choices. When drawn on a continuous line, the
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WESTERNECON 1021A/BMichael ParkinFall

Economics 1021A/B Lecture Notes - Lecture 5: Avoidance Speech, Neuroeconomics, Marginal Cost

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24 Oct 2015
25
Minimum wage laws illegal to hire labour below specified wage create excess supply labour and quantity labour demanded and hired unemployed spend more
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WESTERNECON 1021A/BMichael ParkinFall

Economics 1021A/B Lecture 1: Economics 1021 Principles of Microeconomics

OC5112161 Page
11 Sep 2015
36
Individuals make choices because of limited income and time and resources are scarce. Businesses have limited technology and factors of production. We
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WESTERNECON 1021A/BMichael ParkinFall

Economics 1021A/B Lecture Notes - Lecture 4: Marginal Cost, Market Failure, Marginal Utility

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24 Oct 2015
29
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WESTERNECON 1021A/BMichael ParkinFall

Economics 1021A/B Lecture 11: Lecture 11

OC5104885 Page
3 Dec 2015
16
Chapter 18, resource markets the wage rate for labour the interest rate for capital the rental rate for land the rate of normal profit for entrepreneur
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WESTERNECON 1021A/BMichael ParkinFall

Economics 1021A/B Lecture Notes - Lecture 7: Avoidance Speech, Deadweight Loss, Demand Curve

OC5112163 Page
7 Oct 2015
19
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Michael Parkin (90)