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Class Notes for Economics at York University (YORKU)

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YORKECON 1000Ardeshir NoordehFall

ECON 1000 Lecture Notes - Lecture 3: Opportunity Cost, Microeconomics, Wart

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Econ1000 lecture 3 the economic problem. In a given economy we have limited time (1 year) and resources we can change if it can be controlled (what we
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YORKECON 1000Ardeshir NoordehFall

ECON 1000 Lecture Notes - Lecture 2: Ebay, Opportunity Cost, Macroeconomics

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A fundamental fact dominates our lives: we want more than we can get. Our inability to get everything we want is called scarcity. Not only does one par
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YORKECON 1000TBAFall

ECON 1000 Lecture Notes - Lecture 11: Average Variable Cost, Average Cost, Marginal Cost

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Is the total output produced in a given period. Of an input is the change in total product that results from a one-unit increase in the quantity of thi
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YORKECON 1000TBAFall

ECON 1000 Lecture Notes - Lecture 8: Marginal Utility, Utility, Consumer Choice

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*consumer choice: utility and demand: budget, preferences, choice. A household"s consumption possibilities are constrained by its budget and the prices
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YORKECON 1000Ardeshir NoordehFall

ECON 1000 Lecture Notes - Lecture 4: Relative Price, Opportunity Cost, Economic Equilibrium

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Econ1000 lecture 4 supply & demand. After this chapter you will be able to: Describe a competitive market and think about a price as an opportunity cos
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YORKECON 1000Ardeshir NoordehFall

ECON 1000 Lecture Notes - Lecture 18: Price Discrimination, Perfect Competition, Market Power

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Econ1000 lecture 18 chapter 13: monopoly. Objectives: single-price monopoly, price-discriminating monopoly, determination of output and prices under mo
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YORKECON 1000Ardeshir NoordehFall

ECON 1000 Lecture Notes - Lecture 15: Marginal Cost, Fixed Cost, Marginal Product

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Econ1000 lecture 15 chapter 11: output and costs (pt. ii) The position of a firm"s cost curves depend on two factors: technology, prices of factors of
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YORKECON 1000Ardeshir NoordehFall

ECON 1000 Lecture Notes - Lecture 6: Inferior Good, Normal Good

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Econ1000 lecture 6 chapter 4: elasticity. Calculating price elasticity of demand (% change in quantity demanded / % change in price) x 100 = ____% Dema
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YORKECON 1000Shahed Kaiser KhanFall

ECON 1000 Lecture Notes - Lecture 1: Digital Goods, Allocative Efficiency, Global Warming

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Economics has been known to be the study of mankind. Economics is used to accompy the scarce resources that satisfy humans wants and needs, and tells u
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YORKECON 1010Steve I EdwardsWinter

ECON 1010 Lecture 5: Lecture Five

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We want to divide everything by l. Can have different effects on the production function we distinguish between constant, increasing, and decreasing re
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YORKECON 1000Ardeshir NoordehFall

ECON 1000 Lecture Notes - Lecture 14: Diminishing Returns, Marginal Cost, Marginal Product

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YORKECON 1000TBAFall

ECON 1000 Lecture Notes - Lecture 9: Indifference Curve, Inferior Good, Normal Good

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The shape of the indifference curves reveals the degree of substitutability between two goods. Has a marginal rate of substitution between the two good
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