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Class Notes for ARE 2150 at University of Connecticut (UCONN)

UCONNARE 2150Emma BojinovaFall

ARE 2150 Lecture Notes - Lecture 17: Marginal Cost, Variable Cost

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29 Jan 2020
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7. 6 dynamic changes in costs the learning curve. Better and more specialized tools and plant organization may also lower cost: suppliers may learn how
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UCONNARE 2150Emma BojinovaFall

ARE 2150 Lecture Notes - Lecture 18: Average Variable Cost, Variable Cost, Fixed Cost

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29 Jan 2020
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Returns to scale: rate at which output increases as inputs are increased proportionately. Increasing returns to scale: situation in which output more t
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UCONNARE 2150Emma BojinovaFall

ARE 2150 Lecture Notes - Lecture 21: Isocost, Isoquant, Longrun

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29 Jan 2020
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Expansion path: curve passing through points of tangency between a firm"s isocost lines and its isoquants. The firm can hire labor l at w = /hour and r
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UCONNARE 2150Emma BojinovaFall

ARE 2150 Lecture Notes - Lecture 7: Economic Surplus, Ski Lift, Externality

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29 Jan 2020
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Consumer surplus: the difference between what a consumer is willing to pay for a good and the amount actually paid. Network externality: when each indi
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UCONNARE 2150Emma BojinovaFall

ARE 2150 Lecture 12: Chapter 3: Consumer Behavior

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29 Jan 2020
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Indifference curves: curve representing all combinations of market baskets that provide a consumer with the same level of satisfaction. Indifference ma
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UCONNARE 2150Emma BojinovaFall

ARE 2150 Lecture Notes - Lecture 3: Demand Curve, Technological Change

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16 Sep 2019
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UCONNARE 2150Emma BojinovaFall

ARE 2150 Lecture 2: Chapter 1 Continued (1)

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16 Sep 2019
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UCONNARE 2150Emma BojinovaFall

ARE 2150 Lecture Notes - Lecture 16: Deadweight Loss

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29 Jan 2020
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UCONNARE 2150Emma BojinovaFall

ARE 2150 Lecture Notes - Lecture 19: Market Failure, Deadweight Loss, Price Floor

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29 Jan 2020
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UCONNARE 2150Emma BojinovaFall

ARE 2150 Lecture 9: Chapter 3:9/30/19

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29 Jan 2020
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UCONNARE 2150Emma BojinovaFall

ARE 2150 Lecture 10: Chapter 4: 10/2/19

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29 Jan 2020
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UCONNARE 2150Emma BojinovaFall

ARE 2150 Lecture 11: Chapter 3: Consumer Behavior

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29 Jan 2020
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Cont the line rotates inward from l1 to l3. The maximizing market basket must satisfy two conditions: it must be located on the budget line, it must gi
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