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Class Notes for Economics at Western University (UWO)


WESTERNECON 1021A/BNicholas KahnertFall

Economics 1021A/B Lecture 17: Perfect Competition

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Economics1021 lecture 017 chapter 12 perfect competition. No restrictions to entry into the industry. Establish firms have no advantages over new ones.
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WESTERNECON 1021A/BNicholas KahnertFall

Economics 1021A/B Lecture Notes - Lecture 1: Global Warming, Factors Of Production

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Economic questions arise because we want more than what we can get. Economics: social science that studies how businesses, people, government, Incentiv
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WESTERNECON 1021A/BNicholas KahnertFall

Economics 1021A/B Lecture 18: Perfect Competition

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Economics1021 lecture 018 chapter 12 perfect competition. Temporary shutdown decision: if a firm makes an economic loss, it must decide whether to exit
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WESTERNECON 1021A/BNicholas KahnertFall

Economics 1021A/B Lecture Notes - Lecture 15: Sunk Costs, Marginal Product

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WESTERNECON 1021A/BNicholas KahnertFall

Economics 1021A/B Lecture 16: Costs

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Economics1021 lecture 016 chapter 11 . Short run costs: to produce more output in the short run, the firm must employ more labour, which means that it
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WESTERNECON 1021A/BNicholas KahnertFall

Economics 1021A/B Lecture 21: Monopoly Regulation

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Economics1021 lecture 021 chapter 13 and 14. A monopoly can raise prices above the competitive price, and produce too little to operate in the self-int
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WESTERNECON 1021A/BNicholas KahnertFall

Economics 1021A/B Lecture Notes - Lecture 14: Market Power, Market Structure, Oligopoly

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Economics1021 lecture 14 chapter 10 organizing production. Firm: an institute that hires factors of production and organizes them to produce and sell g
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WESTERNECON 1021A/BNicholas KahnertFall

Economics 1021A/B Lecture 11: Taxes

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Economics1021 lecture 011 chapter 6 taxes. Taxes: necessary to pay for the things government provides. May be tax on labour (income/payroll) or consump
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WESTERNECON 1021A/BNicholas KahnertFall

Economics 1021A/B Lecture 13: Utility and Demand continued & Possibility Preferences and Choices

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Economics1021 lecture 013 chapter 8 and 9. Rise in income: rise in come, increase in quantity demanded, prices stay constant therefore the demand curve
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WESTERNECON 1021A/BNicholas KahnertFall

Economics 1021A/B Lecture Notes - Lecture 2: Opportunity Cost, Economic Model, Marginal Cost

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Economics1021 lecture 002 (what is economics? cont. ) The economic way of thinking: 6 key way of thinking. Preference: determines what is a benefit: co
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WESTERNECON 1021A/BNicholas KahnertFall

Economics 1021A/B Lecture 12: Utility and Demand

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Economics1021 lecture 012 chapter 8 utility and demand. Consumption possibility and choices: consumer"s choice of what to buy is influenced by: consump
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WESTERNECON 1021A/BNicholas KahnertFall

Economics 1021A/B Lecture Notes - Lecture 22: Oligopoly, Normal-Form Game, The Dilemma

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