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Textbook Notes for Alex Hale

MCGILLECON 208Alex HaleFall

ECON 208 Chapter Notes - Chapter 10: Price Discrimination, Marginal Revenue, Profit Maximization

OC17729265 Page
5 Feb 2018
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Econ 208 chapter 10 monopolies, cartels, and price discrimination. Monopoly: a market containing a single firm. Monopolist: a firm that is the only sel
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MCGILLECON 208Alex HaleFall

ECON 208 Chapter Notes - Chapter 12: Productive Efficiency, Allocative Efficiency, Marginal Cost

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5 Feb 2018
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Econ 208 chapter 12 economic efficiency and public policy. Productive efficiency for a firm requires costs to be minimized for any given level of outpu
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MCGILLECON 208Alex HaleFall

ECON 208 Chapter Notes - Chapter 14: Market Clearing, Human Capital, Longrun

OC17729263 Page
5 Feb 2018
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In competitive labour markets, supply and demand set the equilibrium wage and level of employment. No worker or firm can affect the market wage. In pra
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MCGILLECON 208Alex HaleFall

ECON 208 Chapter Notes - Chapter 16: Government Failure, Market Failure, Allocative Efficiency

OC17729266 Page
5 Feb 2018
0
Econ 208 chapter 16 market failures and government intervention. A decentralized market system adjusts quickly to changes. As market conditions change,
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MCGILLECON 208Alex HaleFall

ECON 208 Chapter Notes - Chapter 5: Plywood, Price Controls, Microeconomics

OC17729267 Page
5 Feb 2018
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Econ 208 chapter 5 markets in action. Partial-equilibrium analysis examines a single market in isolation and ignores feedback effects from other market
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MCGILLECON 208Alex HaleFall

ECON 208 Chapter Notes - Chapter 7: Variable Cost, Production Function, Marginal Cost

OC17729266 Page
5 Feb 2018
0
Econ 208 chapter 7 producers in the short run. Alex hale firms as agents of production: organizing and financing of firms. What"s to come the goal of t
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MCGILLECON 208Alex HaleFall

ECON 208 Chapter Notes - Chapter 4: Demand Curve, Longrun, Tax Incidence

OC17729267 Page
5 Feb 2018
0
Elasticity ( ) = (cid:3043)(cid:3032)(cid:3045)(cid:3030)(cid:3032)(cid:3041)(cid:3047)(cid:3034)(cid:3032) (cid:3030) (cid:3041)(cid:3034)(cid:3032) (
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MCGILLECON 208Alex HaleFall

ECON 208 Chapter Notes - Chapter 9: Economic Equilibrium, Perfect Competition, Market Power

OC17729267 Page
5 Feb 2018
0
9. 1 the long run: no fixed factors. Competitive behaviour - the degree to which individual firms actively vie with one another for business. Example:
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MCGILLECON 208Alex HaleFall

ECON 208 Chapter Notes - Chapter 11: Imperfect Competition, Monopolistic Competition, Perfect Competition

OC17729266 Page
5 Feb 2018
0
Econ 208 chapter 11 imperfect competition and strategic behaviour. 11. 1 the structure of the canadian economy. The pe(cid:396)fe(cid:272)tl(cid:455) (
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MCGILLECON 208Alex HaleFall

ECON 208 Chapter Notes - Chapter 8: Economic Efficiency, Longrun, Technological Change

OC17729264 Page
5 Feb 2018
0
Econ 208 chapter 8 producers in the long run. 8. 1 the long run: no fixed factors. In the long run, all inputs are variable: firms strive for both tech
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MCGILLECON 208Alex HaleFall

ECON 208 Chapter Notes - Chapter 1-3: Resource Allocation, Opportunity Cost, Division Of Labour

OC177292610 Page
5 Feb 2018
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The study of the use of scarce resources to satisfy unlimited human wants. A so(cid:272)iet(cid:455)(cid:859)s resour(cid:272)es are usuall(cid:455) di
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MCGILLECON 208Alex HaleFall

ECON 208 Chapter Notes - Chapter 6: Ceteris Paribus, Demand Curve, Utility

OC17729265 Page
5 Feb 2018
0
Consumers are motivated to maximize their utility. Example very little money would be needed to induce you to reduce your consumption of water by one l
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