Verified Documents at McMaster University
- Introductory Microeconomics
- McMaster University
- Verified Notes
Browse the full collection of course materials, past exams, study guides and class notes for ECON 1B03 - Introductory Microeconomics at McMaster University verified by our …
PROFESSORS
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Hannah Holmes
fall
27Aleksandra Gajic
fall
19Verified Documents for Aleksandra Gajic
Class Notes
Taken by our most diligent verified note takers in class covering the entire semester.
ECON 1B03 Lecture Notes - Lecture 1: Perfect Information, Rationality, Opportunity Cost
Scarcity society has unlimited wants, yet there is a limited supply of resources. Resources a. k. a factors of production (land, labor, physical capita
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ECON 1B03 Lecture Notes - Lecture 2: Microsoft Powerpoint, Positive Statement, Absolute Advantage
Econ1b03 lecture 2 - production possibilities and gains from trade. Microeconomic background information: positive statement- a claim that you can prov
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ECON 1B03 Lecture 2: Mcmaster University Econ 1B03 ch1 & 2 notes
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ECON 1B03 Lecture 3: ch3
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ECON 1B03 Lecture Notes - Fall 2018 Lecture 3 - Nutella, Peanut butter, Kraft Dinner
Econ 1b03 lecture 3- demand, supply, and equilibrium. Increase/decrease in quantity demanded is where the point moves along the demand curve, and is ca
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ECON 1B03 Lecture Notes - Fall 2018 Lecture 3 - Economic equilibrium, Nutella, Normal good
Test#1 (chapter 1-3) review will be conducted by tas. Change in demand -> shift in demand curve. Change in quantity demand -> movement along the demand
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ECON 1B03 Lecture 4: mid term exam 1- test review questions
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ECON 1B03 Lecture Notes - Lecture 4: Microsoft Powerpoint, Opportunity Cost, Comparative Advantage
An increase in the minimum wage will increase unemployment. Positive statements describe the world around us, and do not include opinions. A)households
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ECON 1B03 Lecture Notes - Lecture 4: Opportunity Cost, Comparative Advantage, Economic Equilibrium
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ECON 1B03 Lecture 5: Econ1B03 Lecture5 Elasticity
Test results already post on avenue to learn. If the quantity demanded or supplies responds substantially to changes when one of their determinants cha
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ECON 1B03 Lecture Notes - Lecture 5: Chocolate Cake, Demand Curve, Normal Good
If the quantity demanded changes significantly in response to a change in price, we say that the demand is elastic. If it does not change significantly
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ECON 1B03 Lecture Notes - Lecture 7: Average Variable Cost, Marginal Revenue, Marginal Cost
Chapter 7: production and costs & chapter 8: perfect competition. *economic profit = total revenue total opportunity cost (explicit costs + implici
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ECON 1B03 Lecture Notes - Lecture 7: Economic Surplus, Externality, Excludability
Chapter 5:welfare, externalities and public goods chapter 6: government. The benefit that consumers receive when the price they par for a good is less
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ECON 1B03 Lecture Notes - Lecture 7: Economic Surplus, Reservation Price, Economic Equilibrium
Econ 1b03 lecture 7- welfare, externalities, public goods, and government policies. Consumer surplus: everyone has a reservation price, or the highest
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ECON 1B03 Lecture Notes - Lecture 8: Perfect Competition, Taipei Metro, Fixed Cost
Econ 1b03 lecture 8- production and costs and perfect competition. Notes about the test: next test 2 review, test 2 will cover chapters 4-7. There will
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ECON 1B03 Lecture Notes - Lecture 9: Average Variable Cost, Club Good, Price Elasticity Of Demand
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ECON 1B03 Lecture Notes - Lecture 10: Monopolistic Competition, Profit Maximization, Natural Monopoly
Econ 1b03 lecture 10- monopolies and monopolistic competition. Chapter 9: monopoly: when there is only one seller of a good. Monopolies get to set thei
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ECON 1B03 Lecture Notes - Lecture 12: Budget Constraint, Indifference Curve, Opportunity Cost
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ECON 1B03 Lecture Notes - Lecture 13: Ice Cream Cake, Average Cost, Marginal Revenue Productivity Theory Of Wages
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