EC120 Study Guide - Final Guide: Mercosur, Adverse Selection, Environmental Quality

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28 Feb 2018

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EC120 Full Course Notes

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Exam guide covers the following topics: factor markets, capital markets, labour markets, inequality, market failure, environmental policy, canadian tax policy, international trade. Value of one additional unit of a factor. Marginal product measures quantity produced by an additional unit. Marginal revenue measures revenue produced by additional quantity. Marginal revenue product is marginal product times marginal revenue. Firms willing to pay if prices is less than marginal revenue product. Firms willing to pay if price is less than marginal revenue product. An increase in technical capabilities in workers increase the marginal product of computers. All else equal, what would be the effect on the market for computers. Something that affects the marginal product will affect the demand. Increase in the price of oranges (not produced in canada) would affect would that have on the price of canadian farmland suitable for growing other fruit. You are expecting to earn a return of in 2 years.

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EC120 Study Guide - Final Guide: Mercosur, Adverse Selection, Environmental Quality

EC120 Full Course Notes

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