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Textbook Notes for Ling Ling Zhang

MCGILLECON 230D1Ling Ling ZhangFall

ECON 230D1 Chapter 9: Chapter 9

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14 Dec 2017
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MCGILLECON 230D1Ling Ling ZhangFall

ECON 230D1 Chapter 6: Chapter 6

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14 Dec 2017
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These rms operate under a partnership agreement: cooperations are owned by shareholders in proportion to the number of shares or amount of stock they h
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MCGILLECON 230D1Ling Ling ZhangFall

ECON 230D1 Chapter 8: Chapter 8

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14 Dec 2017
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Price taking: economists say a market is competitive when each rm in the market is a price taker. The rm has to be a price taker if it faces a demand c
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MCGILLECON 230D1Ling Ling ZhangFall

ECON 230D1 Chapter Notes - Chapter 7: Sunk Costs, Durable Good, Isoquant

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Alternatively, this rm could have chosen to invest the ,000,000 into capital (k), shifting the isoquant and level of production outwards. If an expendi
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MCGILLECON 230D1Ling Ling ZhangFall

ECON 230D1 Chapter Notes - Chapter 2: Invisible Hand, Economic Equilibrium, Root Mean Square

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14 Dec 2017
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A demand curve is a graph which shows the relationship between quantity demanded and price levels. (they can be smooth or wavy. ) The e ect of price on
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MCGILLECON 230D1Ling Ling ZhangFall

ECON 230D1 Chapter Notes - Chapter 4: Transitive Relation, Indifference Curve, Utility

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14 Dec 2017
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Consumer choice: preferences, we have to make three assumptions about the properties of consumer preferences. We refer to these properties as completen
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MCGILLECON 230D1Ling Ling ZhangFall

ECON 230D1 Chapter 5: Chapter 5

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14 Dec 2017
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Applying consumer theory: deriving demand curves, we can derive a demand curve by comparing the. B. quantity demanded to the price of rotating budget l
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MCGILLECON 230D1Ling Ling ZhangFall

ECON 230D1 Chapter 3: Chapter 3

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14 Dec 2017
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In the case that we have a linear demand curve modeled by the function q = a - bp, the elasticity function can be rewritten to work with this curve. Th
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