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Class Notes for ECON 202 at Colorado State University (CSU)

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CSUECON 202Karen GebhardtFall

ECON 202 Lecture 3: Circular Flow Model, Supply and Demand, and Movement vs. Shifts

OC11112185 Page
5 Sep 2016
4
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CSUECON 202Stephan KrollFall

ECON 202 Lecture Notes - Lecture 12: Market Power, Taipei Metro, Marginal Revenue

Linh2 Page
16 Feb 2017
0
A price-taking producer (or consumer)- is a producer (consumer) whose actions have no effect on the market price of the good it sells or buys. A perfec
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CSUECON 202Karen Ils GebhardtSpring

ECON 202 Lecture Notes - Lecture 2: Ceteris Paribus, Opportunity Cost, Demand Curve

OC23473393 Page
22 Jan 2018
0
Production possibilities curve (ppc): points outside the ppc are unattainable, points on the ppc are attainable and efficient, points inside the ppc ar
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CSUECON 202Stephan KrollFall

ECON 202 Lecture Notes - Lecture 16: Influenza Vaccine, Externality, Social Cost

Linh2 Page
16 Feb 2017
0
Most pollution is a side effect of activities that provide us with good things. Marginal social cost of pollution: additional cost imposed on society b
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CSUECON 202Stephan KrollFall

ECON 202 Lecture Notes - Lecture 13: Marginal Revenue, Natural Monopoly, Market Power

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16 Feb 2017
0
Monopoly: a firm that is the only producer of a good that has no close substitutes. The ability of a monopolist to raise its price above the competitiv
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CSUECON 202Stephan KrollFall

ECON 202 Lecture Notes - Lecture 11: Average Variable Cost, Average Cost, Diminishing Returns

Linh3 Page
16 Feb 2017
0
12 is perfect competition iclicker: increasing variable input eventually results in a less than. Production function: relationship between the quantity
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CSUECON 202Stephan KrollFall

ECON 202 Lecture Notes - Lecture 10: Budget Constraint, Milkshake, French Fries

Linh2 Page
16 Feb 2017
0
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CSUECON 202Stephan KrollFall

ECON 202 Lecture Notes - Lecture 11: Diminishing Returns, Marginal Cost, Fixed Cost

Linh3 Page
16 Feb 2017
0
Productions function: relationship between the quantity of inputs a firm uses and the quantity of output it produces. Fixed input: a(cid:374) i(cid:374
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CSUECON 202Karen Ils GebhardtSpring

ECON 202 Lecture Notes - Lecture 3: Price Floor, Economic Surplus, Economic Equilibrium

OC23473394 Page
9 Feb 2018
0
Quantity supplied > quantity demanded = surplus. Quantity supplied < quantity demanded = shortage. We refer to people as consumers when thinking about
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CSUECON 202Karen Ils GebhardtSpring

ECON 202 Lecture Notes - Lecture 4: Normal Good

OC23473392 Page
9 Feb 2018
0
Determinants of elasticity: necessities vs. luxuries, availability of substitutes, relative price to income. Demand for low-priced goods is relatively
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CSUECON 202Karen GebhardtSpring

Chapters 4 & 14 (4/23/13)

OC1946783 Page
28 Feb 2014
22
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CSUECON 202Karen GebhardtSpring

Chapter 8 (2/28/13)

OC1946782 Page
28 Feb 2014
19
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