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PRINCIPLES OF ECONOMICS II

Exam Study Guides for HON 1302

Covers all exam topics.

HON 1302 Lecture Notes - Lecture 19: Customer Service, Marginal Revenue, Economic Equilibrium
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Microeconomics Review for Quiz #3 Includes material from Quizzes 1, 2, and 3 Supply and Demand 1. Consider the market for cars, which use steel in pr...

HON - HONORS
HON 1302
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HON 1302 Lecture Notes - Lecture 18: Monopolistic Competition, Perfect Competition, Single Market
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Microeconomics Monopolistic Competition  Common market structure o Most firms belong to this market type  Many firms produce a similar product o Differences in products may includ...

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HON 1302
Tomic
HON 1302 Lecture Notes - Lecture 17: Profit Maximization, Marginal Revenue, Demand Curve
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Microeconomics Oligopolies Characteristic of an Oligopoly  Few large firms keep an eye on each other o How?  Read annual reports ...

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HON 1302
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HON 1302 Lecture Notes - Lecture 16: Monopolistic Competition, Perfect Competition, Oligopoly
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Microeconomics Oligopoly and Monopolistic Competition Notes for Writing Papers  The first draft is never a good one, ALWAYS edit and write several drafts before deciding on a final draft...

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HON 1302
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HON 1302 Lecture Notes - Lecture 15: Consent Decree, Sherman Antitrust Act, Clayton Antitrust Act
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Microeconomics Monopolies, Continued Which is Better for Society: Monopolies or Competition?  With competition, a larger output is produced at a lower price  With monopolies...

HON - HONORS
HON 1302
Tomic
HON 1302 Lecture Notes - Lecture 13: Marginal Revenue, Demand Curve, Economic Equilibrium
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Microeconomics Review of Quiz #2 Group Project Update: Reviewers will have about 10 days to review submitted PowerPoint project. Consider: - Does the content make sense? - W...

HON - HONORS
HON 1302
Tomic
HON 1302 Lecture Notes - Lecture 27: Marginal Utility, Perfect Competition, Marginal Revenue
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Microeconomics In-Class Review Review of Material from Quiz #1 Demand and Supply • Must have both supply and demand for a market • Demand r...

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HON 1302
Tomic
HON 1302 Lecture Notes - Lecture 11: Marginal Revenue, Perfect Competition, Marginal Cost
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Microeconomics Reviewing Perfect Competition Market and a Firm in Perfect Competition Market Firm MC Price Price AC MR: AR: D 30 Quantity 200,000 Quantity For this esample o What is Total Revenue? Represented by the area u...

HON - HONORS
HON 1302
Tomic
HON 1302 Lecture 10: Chapter 12: General Equilibrium and the Efficiency of Perfect Competition
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Microeconomics Chapter 12 General Equilibrium and the Efficiency of Perfect Competition Class Announcement: Upcoming Quiz (date TBA) will be on Chapters 6, 8, and 12 Conditions for Perfect Competition 1. Many Buyers and Ma...

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HON 1302
Tomic
HON 1302 Lecture 9: Chapter 8 and Intro to Chapter 12
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Microeconomics Chapter 8 and Intro to Chapter 12 Review Variable costs connected to variable input o Things you can change quickly o Part of short run costs Fixed costs o Need to be paid regardless of how much or how littl...

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HON 1302
Tomic
HON 1302 Lecture Notes - Lecture 8: Marginal Revenue, Marginal Cost, Variable Cost
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find more resources at oneclass.com Microeconomics Chapter 8 - Short Run Costs and Output Decisions Symmetry between Revenues and Cost Definitions Definitions: ...

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HON 1302
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HON 1302 Lecture Notes - Lecture 7: Economic Equilibrium, Demand Curve, Equilibrium Point
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find more resources at oneclass.com Microeconomics Class Review of Exam: Important Terms and Concepts to Remember for Next Exam (All Exams are ...

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HON 1302
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HON 1302 Lecture 6: Review for Quiz #1
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Microeconomics Class Review for Quiz 1 on 21317 Demand and Supply If given Because quantity increases as price increases, this is a supply curve P Q 1 2 2 5 3 10 4 15 5 20 plot the points to visualize the information. This...

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HON 1302
Tomic
HON 1302 Lecture Notes - Lecture 5: Budget Constraint, Marginal Revenue, Demand Curve
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find more resources at oneclass.com Microeconomics Lecture 5 Chapter 6 – Household Behavior and Consumer Choice Budget Constraints  A limitation on the amounts of goods ...

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HON 1302
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HON 1302 Lecture Notes - Lecture 4: Lead, Economic Equilibrium
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find more resources at oneclass.com Microeconomics Chapter 5 – Elasticity of Demand Cntd. Questions from Textbook Pg. 121 Discussed in Class: #6) Price of hom...

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HON 1302
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