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Economics Major at NYU

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NYUECON-UA 2Marc LiebermanSpring

ECON-UA 2 Chapter Notes - Chapter 10: Oligopoly, Externality, Market Power

OC5414713 Page
12 Apr 2016
18
One firm in the market (monopoly)-a few firms in the market (oligopoly)1. Economies of scale (increasing production leads to a decrease in average cost
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NYUECON-UA 2Marc LiebermanSpring

ECON-UA 2 Chapter Notes - Chapter 9: Demand Curve, Market Power, Perfect Competition

OC5414713 Page
12 Apr 2016
24
There are large numbers of buyers and sellers, and each buys or sells only a tiny fraction of the total quantity in the market. Sellers can easily ente
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NYUECON-UA 2Marc LiebermanSpring

ECON-UA 2 Chapter Notes - Chapter 8: Marginal Cost, Opportunity Cost, Profit Maximization

OC5414713 Page
12 Apr 2016
11
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NYUECON-UA 2Marc LiebermanSpring

ECON-UA 2 Chapter Notes - Chapter 7: Variable Cost, Opportunity Cost, Marginal Product

OC5414712 Page
11 Apr 2016
15
Organizations owned and operated by private individuals that specialize in production. Production is the process of combining inputs to make goods and
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