Textbook Notes for Zhihao Yu

CARLETONECON 2009Zhihao YuFall

ECON 2009 Chapter Notes - Chapter 5: Marginal Product, Second Derivative, Production Function

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28 Dec 2015
31
If x1 is the level of the first input and x2 is the level of the second input, the production function is. Variable inputs can be changed in the short
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CARLETONECON 2009Zhihao YuFall

ECON 2009 Chapter Notes - Chapter 1: Market Entry Strategy, Complementary Good, Invisible Hand

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28 Dec 2015
22
Managers task-main task is to make good decisions for better or worse. Managerial economics uses formal models to analyze managerial actions and their
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CARLETONECON 2009Zhihao YuFall

ECON 2009 Chapter Notes - Chapter 8: Monopolistic Competition, Perfect Competition, Price Fixing

OC51061211 Page
28 Dec 2015
13
Will shut down if it cannot cover its vc. The extra profit earned by monopoly managers is generated by their ability to choose a price greater than mar
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CARLETONECON 2009Zhihao YuFall

ECON 2009 Chapter Notes - Chapter 3: Indifference Curve

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28 Dec 2015
38
In addition, they must understand that they can take actions to influence consumer choice. Contains points representing market bundles among which the
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CARLETONECON 2009Zhihao YuFall

ECON 2009 Chapter Notes - Chapter 9: Price Discrimination, Reservation Price, Economic Surplus

OC51061212 Page
28 Dec 2015
21
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CARLETONECON 2009Zhihao YuFall

ECON 2009 Chapter Notes - Chapter 12: Extensive-Form Game, Sequential Game, Strategic Dominance

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28 Dec 2015
26
Interactive when the consequence of a manager"s decision depends on both the manager"s own actions of other. The entity making decision: the strategy (
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CARLETONECON 2009Zhihao YuFall

ECON 2009 Chapter Notes - Chapter 7: Perfect Competition, Monopolistic Competition, Market Structure

OC5106127 Page
28 Dec 2015
14
They make decisions subject to the limits imposed by technology, resources, economics, policies, and avarice. A dominant constraint in pricing decision
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CARLETONECON 2009Zhihao YuFall

ECON 2009 Chapter Notes - Chapter 6: Sunk Costs, Fixed Cost, Variable Cost

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28 Dec 2015
29
Managers must know how are costs related to output. Considerations include both short run and long run. Opportunity cost doctrine the inputs" value (wh
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CARLETONECON 2009Zhihao YuFall

ECON 2009 Chapter Notes - Chapter 18: Differential Calculus, Constrained Optimization, Marginalism

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28 Dec 2015
14
Differentiation tells us what changes will occur in one variable (the dependent variable) when a small (marginal) change is made in another variable (t
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CARLETONECON 2009Zhihao YuFall

ECON 2009 Chapter Notes - Chapter 11: Best Response, Oligopoly, Management

OC5106129 Page
28 Dec 2015
17
Oligopoly a market with a small number of firms. High entry barrier that managers erect using their cooperative market power. Conditions in oligopolist
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CARLETONECON 2009Zhihao YuFall

ECON 2009 Chapter Notes - Chapter 10: Economic Surplus, Reservation Price, Transfer Pricing

OC5106123 Page
28 Dec 2015
48
Simple bundling when managers offer several products or services as one package so consumers do not have an option to purchase package components separ
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CARLETONECON 2009Zhihao YuFall

ECON 2009 Chapter Notes - Chapter 2: Marginal Revenue, Mako (Voice Actress), Tachykinin Receptor 1

OC5106129 Page
28 Dec 2015
10
Good managers learn to understand the nature of demand for products and effectively manage it. Managers need to predict how their changes affect demand
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