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Textbook Notes for Economics at Carleton University


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CARLETONECON 1000Nick RoweFall

ECON 1000 Chapter Notes - Chapter 15-22: Monopolistic Competition, Nash Equilibrium, Marginal Revenue

OC53748811 Page
8 May 2017
0
Monopoly: a firm that is the sole seller of a product without close substitutes. Natural monopoly: a monopoly that arises because a single firm can sup
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CARLETONECON 1000Nick RoweFall

ECON 1000 Chapter Notes - Chapter 10-14: Free Rider Problem, Tax Rate, Coase Theorem

OC53748813 Page
8 May 2017
0
Externality: the uncompensated impact of one person"s actions on the well-being of a bystander. Negative externality: a variable that creates a social
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CARLETONECON 2009Zhihao YuFall

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

OC5106129 Page
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

OC5106123 Page
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 3: Indifference Curve

OC5106126 Page
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 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 9: Price Discrimination, Reservation Price, Economic Surplus

OC51061212 Page
28 Dec 2015
21
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CARLETONECON 1000Nick RoweFall

ECON 1000 Chapter Notes - Chapter 1: Omnipotence, High Standard Manufacturing Company, Business Cycle

OC4962615 Page
29 Jul 2015
18
There is no such thing as a free lunch, meaning that in order to get something that we like we may need to give something else up that we like in retur
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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

OC5106124 Page
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 12: Extensive-Form Game, Sequential Game, Strategic Dominance

OC5106127 Page
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 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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