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Class Notes for Economics at York University (page 4)

ECON 1530 Lecture Notes - Lecture 1: Rational Number, Natural Number, Real Number
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ECON 1530 Lecture 1 Notes Algebra Introduction The Real Numbers o We start by reviewing some important facts and concepts concerning numbers. o The basic numbers are1, 2, 3, 4, . . . (natu...

Economics
ECON 1530
John Paul Rilstone
ECON 1000 Lecture Notes - Lecture 1: Digital Goods, Allocative Efficiency, Global Warming
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ECON 1000: Lecture One September 6 , 2018 Chapter one: What is the main definition of Economics? -Economics has been known to be the study of mankind -Economics is used to accompy ...

Economics
ECON 1000
Shahed Kaiser Khan
ECON 1000 Lecture Notes - Lecture 21: Marginal Product, Externality, Fish Farming
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ECON1000 Lecture 21 Chapter 16: Externalities (Pt.II) Positive Externality: Knowledge Government Action in the Face of External Benefits There are 3 main devices that the government can use to achieve a more efficient allo...

Economics
ECON 1000
Ardeshir Noordeh
ECON 1000 Lecture Notes - Lecture 20: Nash Equilibrium, Normal-Form Game, Oligopoly
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ECON1000 Lecture 20 Chapter 15: Oligopoly (Pt.II) Oligopoly Games Collusion: Suppose that the two firms (Gear and Trick) enter into a collusive agreement. A collusive agreement is an agreement between two (or more) firms t...

Economics
ECON 1000
Ardeshir Noordeh
ECON 1000 Lecture Notes - Lecture 19: Price Discrimination, Oligopoly, Economic Surplus
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ECON1000 Lecture 19 Chapter 13: Monopoly (Pt.II) Price Discrimination Price discrimination is the practice of selling different units of a good or service for different prices. To be able to price discriminate, a monopoly ...

Economics
ECON 1000
Ardeshir Noordeh
ECON 1000 Lecture Notes - Lecture 18: Price Discrimination, Perfect Competition, Market Power
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ECON1000 Lecture 18 Chapter 13: Monopoly Single-price monopoly Price-discriminating monopoly Determination of output and prices under monopoly: o Single-price monopolist o Discriminating monopolist Comparing the p...

Economics
ECON 1000
Ardeshir Noordeh
ECON 1000 Lecture Notes - Lecture 17: Perfect Competition, Competitive Equilibrium
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ECON1000 Lecture 17 Chapter 12: Perfect Competition (Pt.II) Output, Price, and Profit in Perfect Competition: Longrun Entry of New Firms: With the existence of shortrun profit, new firms enter an industry. Industry supply ...

Economics
ECON 1000
Ardeshir Noordeh
ECON 1000 Lecture Notes - Lecture 16: Perfect Competition, Market Power, Marginal Cost
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ECON1000 Lecture 16 Chapter 12: Perfect Competition Objectives: Define perfect competition Price and output determination in perfect competition Shut down Point Enter and Exit Effects of a change in demand and of a technol...

Economics
ECON 1000
Ardeshir Noordeh
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) ShortRun Cost Shift in Cost Curves: The position of a firms cost curves depend on two factors: 1.Technology 2.Prices of factors of production Technological change in...

Economics
ECON 1000
Ardeshir Noordeh
ECON 1000 Lecture Notes - Lecture 14: Diminishing Returns, Marginal Cost, Marginal Product
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ECON1000 Lecture 14 Chapter 11: Output and Costs Objectives: Shortrun vs. Longrun Production Function oTotal product oMarginal product oAverage product Law of Diminishing Return Cost Function oTotal cost oMarginal cost oAv...

Economics
ECON 1000
Ardeshir Noordeh
ECON 1000 Lecture Notes - Lecture 13: Opportunity Cost, Monopolistic Competition, Sole Proprietorship
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ECON1000 Lecture 13 Chapter 10: Organizing Production Objectives: Explain what a firm is and describe the difference between normal profit and economic profit. Distinguish between technological efficiency and economic effi...

Economics
ECON 1000
Ardeshir Noordeh
ECON 1000 Lecture Notes - Lecture 12: Indifference Curve
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ECON1000 Lecture 12 Chapter 9: Possibilities, Preferences, and Choices (Pt.II) The Budget Equation: Expenditure = Income Let, Price of pop = PP, and Quantity of pop = QP Price of a movie = PM, and Quantity of moves = QM, a...

Economics
ECON 1000
Ardeshir Noordeh
ECON 1000 Lecture Notes - Lecture 11: Demand Curve, Economic Surplus
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ECON1000 Lecture 11 Chapter 8: Utility and Demand (Pt.II) UtilityMaximizing Choice The key assumption is that, given the budget (income) constraint, the household chooses the consumption possibility that maximizes total ut...

Economics
ECON 1000
Ardeshir Noordeh
ECON 1000 Lecture 10: The Economic Problem
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ECON1000 Lecture 10 Chapter 2: The Economic Problem Production Possibilities and Opportunity Cost Increasing Opportunity Cost The PPF and Marginal Cost Using Resources Efficiently oProduction Efficiency oAllocative Efficie...

Economics
ECON 1000
Ardeshir Noordeh
ECON 1000 Lecture Notes - Lecture 9: Demand Curve
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ECON1000 Lecture 9 Chapter 8: Utility and Demand Consumer Choices The choices you make as a buyer of goods and services is influenced by many factors, which economists summarize as Consumption possibilities Preferences A C...

Economics
ECON 1000
Ardeshir Noordeh

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