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Class Notes for Economics at Wilfrid Laurier University (WLU)

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WLUEC140David R. JohnsonWinter

EC140 Lecture Notes - Lecture 1: Lectionary

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WLUEC120Amjad RabiFall

EC120 Lecture Notes - Lecture 1: Business Cycle, Omnipotence, Invisible Hand

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WLUEC120Steffen ZissFall

EC120 Lecture Notes - Lecture 24: Economic Surplus, Deadweight Loss

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: goods that are easy to transport will sell at the same price worldwide. If a good is cheaper in a than b then . Buyers shift to a and sellers shift t
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WLUEC120Steffen ZissFall

EC120 Lecture Notes - Lecture 16: Deadweight Loss, Economic Surplus, Allocative Efficiency

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WLUEC120Steffen ZissFall

EC120 Lecture Notes - Lecture 23: Absolute Advantage, Factor Endowment, Comparative Advantage

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Opportnity costs differ between countries . ( theory of comparative advantage . Trade allows importing countries to acquire goods at a lower opportunit
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WLUEC120Steffen ZissFall

EC120 Lecture Notes - Lecture 15: Strategic Dominance, Monopolistic Competition, Nash Equilibrium

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Use mr and mc to find profit maximizing prices if firm can price discriminate between workers and tourists. Use mr and mc to find profit maximizing pri
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WLUEC120Amjad RabiFall

EC120 Lecture Notes - Lecture 7: Demand Curve, Tax Incidence, Price Ceiling

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Ec120 - lecture 7 - supply, demand, and government policies. This chapter analyzes various types of government policy using only the tools of supply an
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WLUEC120Steffen ZissFall

EC120 Lecture Notes - Lecture 11: Average Variable Cost, Marginal Cost, Diminishing Returns

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>0 will attract entry, <0 will induce exit. =0 will induce netiehr entry nor exit. Production function: q = f(k,l), k is fixed in sr. Average product o
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WLUEC120Amjad RabiFall

EC120 Lecture Notes - Lecture 6: Time Horizon, Midpoint Method, Hectare

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WLUEC140David R. JohnsonWinter

EC140 Lecture Notes - Lecture 2: Lectionary, Price Level, Real Wages

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Percent change in real income from previous year. The deflator is our first example of a price index. It represents the average price level of a group
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WLUEC120Steffen ZissFall

EC120 Lecture Notes - Lecture 13: Marginal Revenue, Competitive Equilibrium, Takers

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WLUEC120Steffen ZissFall

EC120 Lecture Notes - Lecture 12: Tangent, Marginal Product, Production Function

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Technical efficiency: use fewest inputs for a given q. A firm minimizes cost of a given q by equating . Marginal product per dollar across all inputs,
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