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Midterm

Midterm 2 Short Intro and Stats (Indart)

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Department
Economics
Course
ECO101H1
Professor
Gustavo Indart
Semester
Summer

Description
MIDTERM 2 SHORT INTRO AND STATS: Topics to be Covered:  Production and Costs  Short-Run Competitive Equilibrium  Long-Run Competitive Equilibrium  Monopoly  Allocative Efficiency, Externalities, and Government Intervention  National Accounts The second midterm in Indart’s class consists of questions mostly on Short-Run Equilibrium, Monopoly and Allocative Efficiency, Externalities, and Government Intervention. It’s important to note that Indart’s questions tend to overlap with each other (excluding the topic National Accounts), so when studying for this midterm, it’s important to know how to solve questions that involve short-run effects on the long-run equilibrium as well as combined efficiency losses due to monopolies and government intervention. Average Weight of Each Topic on the Term Test:  Production and Costs 14.55%  Short-Run Competitive Equilibrium 26.73%  Long-Run Compe
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