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Class Notes for Economics at University of Akron

3250:200 Lecture Notes - Lecture 20: Redistribution Of Income And Wealth, Economic Mobility, Marginal Utility
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Microeconomics 04 / 25 / 2017 Chapter 20 Income Inequality and Poverty Introduction -even in the absence of discrimination, the income distribution in a market economy may not be equitable or otherwise desirable -in ...

Economics
3250:200
Amanda Weinstein
3250:200 Lecture Notes - Lecture 19: Demand Curve, Human Capital, Externality
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Microeconomics 04 / 20 / 2017 Chapter 19 Earnings and Discrimination Ability, Effort, and Human Capital -greater ability or effort often command higher pay ; these traits increase workers marginal products, make them...

Economics
3250:200
Amanda Weinstein
3250:200 Lecture Notes - Lecture 18: Marginal Product, Demand Curve, Root Mean Square
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Microeconomics 04 / 18 / 2017 Chapter 18 The Markets for the Factors of Production Factors of Production and Factor Markets -the inputs used to produce goods and services -labor -land -capital...

Economics
3250:200
Amanda Weinstein
3250:200 Lecture Notes - Lecture 17: Root Mean Square, Oligopoly, Strategic Dominance
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Microeconomics 04 / 13 / 2017 Chapter 17 Oligopoly Measuring Market Concentration -this chapter focuses on oligopoly, a market structure with high concentration ratios concentration ratio- the percentage of the marke...

Economics
3250:200
Amanda Weinstein
3250:200 Lecture Notes - Lecture 16: Monopolistic Competition, Imperfect Competition, Perfect Competition
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Microeconomics 04 / 11 / 2017 Chapter 16 Monopolistic Competition perfect competition- many rms, identical products monopoly- one rm in between these extremes : imperfect competition oligopoly- only a few sellers of...

Economics
3250:200
Amanda Weinstein
3250:200 Lecture Notes - Lecture 15: Market Power, Monopoly Price, Demand Curve
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Microeconomics 04 / 06 / 2017 Chapter 15 Monopoly monopoly- a rm that is the sole seller of a product without close substitutes -a monopoly rm has market power, the ability to inuence the market price of the product i...

Economics
3250:200
Amanda Weinstein
3250:200 Lecture 14: chapter 14 : firms in competitive markets
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Microeconomics 04 04 2017 Chapter 14 Firms in Competitive Markets Characteristics of Perfect Competition many buyers and sellers the goods offered for sale are largely the same rms can freely enter or exit the market total...

Economics
3250:200
Amanda Weinstein
3250:200 Lecture Notes - Lecture 13: Production Function, Root Mean Square, Opportunity Cost
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Microeconomics 03 / 23 /2017 Chapter 13 The Costs of Production Total Revenue, Total Cost, Prot -we assume that the rms goal is to maximize prot -maximizing prot includes minimizing costs prot = total revenue total...

Economics
3250:200
Amanda Weinstein
3250:200 Lecture Notes - Lecture 12: Deadweight Loss, Progressive Tax, Tax Deduction
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Microeconomics 03/14/2017 Chapter 12 The Design of the Tax System -to perform its many function, the government raises revenue through taxation Taxes -a tax on a good reduces the market quantity of that good -the go...

Economics
3250:200
Amanda Weinstein
3250:200 Lecture Notes - Lecture 11: Free Rider Problem, Private Good, Club Good
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Microeconomics 03/09/2017 Chapter 11 Public Goods and Common Resources Important Characteristics of Goods -a good is excludable if a person can be prevented from using it ex: sh tacos, wireless Internet access not e...

Economics
3250:200
Amanda Weinstein
3250:200 Lecture Notes - Lecture 10: Economic Surplus, Ecotax, Demand Curve
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Microeconomics 03/07/2017 Chapter 10 Externalities externality- the uncompensated impact of one persons actions on the well being of a bystander -externalities can be negative or positive, depending on whether impact ...

Economics
3250:200
Amanda Weinstein
3250:200 Lecture Notes - Lecture 9: Comparative Advantage, Root Mean Square, Opportunity Cost
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Microeconomics 03/02/2017 Chapter 9 International Trade -a country has a comparative advantage in a good if it produces the good at lower opportunity cost than other countries -countries can gain from trade if each e...

Economics
3250:200
Amanda Weinstein
3250:200 Lecture Notes - Lecture 8: Deadweight Loss, Market Distortion, Root Mean Square
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Microeconomics 2/28/2017 Chapter 8 The Costs of Taxation The Effects of a Tax equilibrium with no tax : price = Pe quantity = Qe equilibrium with tax ($T per unity) : buyers pay Pb , sellers receive Ps , quantity ...

Economics
3250:200
Amanda Weinstein
3250:200 Lecture Notes - Lecture 7: Economic Surplus, Planned Economy, Laissez-Faire
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Microeconomics 2/16/2107 Chapter 7 Consumers, Producers, and the Efciency of Markets Welfare Economics -recall, the allocation of resources refers to how much of each good is produced, which producers produce it, whi...

Economics
3250:200
Amanda Weinstein
3250:200 Lecture Notes - Lecture 6: Price Ceiling, Economic Equilibrium
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Microeconomics 02/07/2017 Chapter 6 Supply, Demand, and Government Policies Government Policies that Alter the Private Market Outcome price controls price ceiling- a legal maximum on the price of a good or ser...

Economics
3250:200
Amanda Weinstein
Permachart - Marketing Reference Guide: Net Asset Value, Mutual Fund, U.S. Securities And Exchange Commission

l e a r n • r e f e r e n c e • r e v i e w permacharts TM Mutual Funds WHAT IS A MUTUAL FUND? PURCHASING & REDEE...

Biology
BIOL2721
All Professors
Macroeconomics - Reference Guides

Take a look at the big picture. This chart covers national income accounting, inflation, consumption, economic growth, money supply, labor markets, monetary policy, international trade, supply side economics, and fiscal po...

Business and Political Economy Program
BPEP-UB 2
All Professors
Permachart - Marketing Reference Guide: Marginal Revenue, Profit Maximization, Marginal Cost

l e a r n • r e f e r e n c e • r e v i e w permacharts TM Microeconomics Microeconomics TYPES OF MARKETS ...

E-Business Marketing
ECN 102
All Professors
Permachart - Marketing Reference Guide: National Environmental Policy Act, Municipal Solid Waste, Criteria Air Contaminants

l e a r n • r e f e r e n c e • r e v i e w permacharts TM EEnvironmental Law ENVIRONMENTAL REGULATION NATIONAL ENVIRONMENTAL POL...

LAW
LAW 356
All Professors

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