MGEA02H3 Study Guide - Final Guide: Demand Curve, Opportunity Cost, Perfect Competition

273 views42 pages
blackbuffalo693 and 255 others unlocked
MGEA02H3 Full Course Notes
38
MGEA02H3 Full Course Notes
Verified Note
38 documents

Document Summary

Lectures posted on utsc intranet every sunday: first test. Final exam 50% *7th, 8th, or 9th december. Sep 16, 2009 lecture 02 the opportunity cost of getting married: implicit: your next best alternative, time with friends www. notesolution. com. Video: www. utsc. utoronto. ca/~ecma04/online. html: second derivative is -1/6, which shows increasing costs, ocx rises as x produced increase. V = 3x + 6y = 3x + 6(14 x/6 x^2/12) = 3x + 84 x x^2/2. = - (x^2)/2 + 2x+ 84: dv/dx = -x +2 = 0 x = 2 sub x = 2 into ppf y = 13. 33. Law of demand negative slope: qd = 600 10p, or p = 60 0. 1 qd, could be qd = 10p-1 = September 23, 2009 lecture 04: supply curve: positive slope www. notesolution. com. Video: www. utsc. utoronto. ca/~ecma04/online. html: in sr, marginal cost of production r ise as output increase, mc = tc/ q = , ex.