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Class Notes for ECON251 at University of Delaware (UD)

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UDECON251Schubert, JensSpring

ECON251 Lecture Notes - Lecture 1: Marginal Utility, Marginal Cost, Opportunity Cost

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22 Feb 2017
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People make choices as they try to achieve their goals. Choices are inevitable because we live in a world of scarcity. Scarcity is a situation in which
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UDECON251Schubert, JensSpring

ECON251 Lecture Notes - Lecture 3: Demand Curve, Inferior Good, Perfect Competition

OC12277684 Page
22 Feb 2017
0
Chapter 3: where prices come from: the interaction of demand and supply. To analyze a market (e. g. market for oranges), we need a model how buyers and
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UDECON251Schubert, JensSpring

ECON251 Lecture Notes - Lecture 3: Economic Surplus

OC12277682 Page
22 Feb 2017
0
Chapter 4: economic efficiency, govt price setting, and taxes. Consumers buy goods and producers sell goods as it makes them better off (at least as go
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