Economics 2182A/B Study Guide - Final Guide: Economic Equilibrium, Opportunity Cost, Marginal Revenue Productivity Theory Of Wages
11 Apr 2017
School
Department
Course
Professor
Document Summary
Date: jan 15: teams and athletic contests define institutions, cities, and nations. Not directly, but there is more financial chain effect of sports: compare advantage and absolute advantage. If the price changes, demand does not change, the quantity demand changes. In 1995, the bowman co. produced a set of cads tv set with picture of players bordered by what looks like a tv set. Hank aaron- all time name (atlanta; milwaukee) 3 reasons: time: mm spent his entire career with the ny yankees; while ha split his career between milwaukee and atlanta, demand: based on population alone, demand mm is greater than c) demand of ha. Income level: on average, people living in the ny area are wealthier than people in atlanta and milwaukee. Baseball card is a normal good, demand increases as wage increase. Input prices: technology, taxes, expectation (as the expectation of yankee , people want to keep mm.
