Class Notes (835,040)
Canada (508,887)
Economics (1,511)
EC120 (577)
Lecture

EC120 notes for chapter 7, 8, 10, 13, 14

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Department
Economics
Course
EC120
Professor
petersinclair
Semester
Fall

Description
S\`W^Ż nf°€ ¾ n ¾ť¯n€ fn– ¾½n ţJ n½n ¾½n ţJ n n°¾¯ ¾n°¾¯ J €f n°¯ n¾ť ¾€ fnf °€ ¾n ¾f€€ n¾ n°¯ n Ŵ °– ¾M°–° ¾¾½[email protected]€f– ¾ ¯f ¯¯f¯° ½f€f– D¾ff¾ ½f ½ –f½ţ¾ °n °° nf°f€f½nţ¾ – ¾½€¾ ,f –°f ť f f € ½ n € ½n °n f¾ f°€ Ŧ °¾¯ ¾ ½¾ ¾ f¯°f ¾ °–½f¯ °¾ fnf½f¾żƹ[email protected]Ŷ9Ž °¾¯ "½¾nf° nfnf –f–f½nfnf °– f f° ¯f° n €¯#; f °"n ¯f ° °– ¾½f °– – 9 ¾ ¾ f € °–f ¾ ¯¾– ½½n f–&'Ŧ Ŧ(½½° n¾) '°n ¾ n¾€ ¾n ¾f¾ f¾ f € ¯ ¾f¾ ¾f¾f¯ f¾ € ¾ ¾ °–° ¾¾¾ '°fn¾ ¾¾½½–f½ţ –€ "n ¾ n¾€ ¯f–°f¾ţ ¾ f ¯f* €½ n ¾ f° 9 n ¾ ½¾&9")ť f¯°f¾ ¾½f €f–¯ °¾ ¾ ¾n¾ż9ƹ9Ŷn¾Ž 9n ¾½¾ ¾ f f ¾½½n ţ° ½ n ţ€¯#; f °9"n ¯f ° °–¾ ¾– °– 9 °¾¯ ½¾ƹ& f ¾)Ŷ&f¯°½f ¾) O ¯f¾¾ °€ ¾n€¯½fn½f°–°¯fŦ 9 n ½¾ƹ&f¯° n ¾ ¾)Ŷ&n¾¾ ¾) O 9¯f¾¾ °€¾¾n€¯½fn½f°–°¯fŦ @f¾ ½¾ƹ",9"ƹ&If ¾Ŷn¾¾ ¾) O @¯f¾¾f–f°¾€¯f°f¯fŦ °fnf °€ ¾n ¾ ¾ €€n ° € ¯f ¯ . ¾f¾½¾Ŧ€€ n °n¯ f°¾ť O of ¾ °– °– /f° €f–° °n f¾ f¾½¾Ŧ O @ –¾f °–½n ½n ¾ ¾n¾Ŧ O @ –¾f °–n°¾¯ ¾ f ¯¯¾ –Ŧ € ¾ ½ ¾ €f Ŧ f¾¾ f Ŷ0f ¯1ţ ff – ¾° ° € ¯f* f¾ nf°° ¯½ n¯ Ŧ ,f* n°¯*¾ ¾€ n°¯ţf¾ °¾½f / ¯€ ¾f°¾ ¾ţf¾ ¯f ¯ . ¾ ¾¯€n°¾¯ f°½n ¾½¾Ŧ'°fn °f½f°° ¯f* ţ n °f½f°° f *° €€ n °¾ ¾n¾f° ¾½ n €f –¾ ° n°ţ n ¾°½¾¾ Ŧ ,f " €f ¾Ŷ° –f ¯f* ¾€f fnf ¾n ¾ €€ n °Ŧf¾ ¾ť ,f " ½M Ŷf¾ °– ¾ nf° °€ °n ¯f* ½ n ţ Ŧ–Ŧ¯°½ S\`W^ÊSW_ @fo ° ƹ[email protected];&) 4'°n °f¾½¾ fM –#¾¾Jƹ€f °f¾½¾ ¯f* ¾ °ţ¾nf¾f O –J6 °¾½½f° ¯f° ¾ f¾ nţf°J6 ° ° f¾ n O °– fnf°¯f* J6/f½ ţ°° n ¾¾f 4 J °ff ¾ţf ¾ °– ¯ ¾°nf¾ ¯nnf°– 7f¯ţ¾ °– ¯€ ¾° ° € n fŦJ °ff ¾f –ţf ¾ °– ¯nf¾ ¾ f¯ J6ţ¾ ¾ ° € n f n 4 J °f ¾f ţ °n f¾ °– ¯nf¾ ¾¯ f ° ŦJ °f ¾f –ţ °n f¾ °– ¯nf¾ ¾ ¾¾ °n f¾ °f ° S\`W^ŵŴÊ`W^ZS`W_ °f ¾Ŷ¾ €€ n¾€f°¾fn °¾Ť °n¯½ °¾f ¯½fn€° ½ ¾°¾fn °¾° Ŵ °–€f¾f° @ - –f °f Ť €€ n°¾f° ¾ ¾f ¾ &f ½ °€¯f€fn) @ 9¾ °f Ť €€ n°¾f° ¾ ¾ ° € n f& f° °–½f ½¾ ° ¾ ţf¾ f¾ °n f¾ f € ½½ ¾ţ n) °f¾Ŷ f € ° –f ¯½fn°¾f° ¾ 9 $f $f Ŷ f €½n ¾ţ ½ ¾ ° ° ¯f°n 9 $f ¾Ŷn¾ °n ¾ ţ ½ ¾ ° °¾½½n nfn¾Ŷ½ f , °fn¾ %° °f °–# °fťf °– °n ° ¾¾f½ ½ f* fnn°€ °f €€ n¾€ fn °¾€ ° °– ° f¾€¯f* °–° ¾ ¾ O '°½¾ °f ¾ţ ¾n f f €f– °n ¾ 4 9 f f Ŷ n f ¾ 4 °f ° € Ŷ f € ½¾ ¯½fn°¾f° ¾ @ f°¾fn°n¾¾ť n¾¾f½f ¾ °n ° ½n ¾¾€f– °–f°€ °––°f f–f ° @ 9 – f°f ¾ff° –½ Ŧ@ ff ¾ ¾ ° € – °¯ °ţf° °f°n ¾ n°¯ n €€ n °n ° °f . °–° –f °f ¾ "n fIf €f½¾ °f °f–ť O 9 $f If Ŷ n f ¾ O °f ° €Ŷ f € ½¾ ¯
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