Textbook Notes for MGEB02H3 at University of Toronto Scarborough (UTSC)
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MGEB02H3 Chapter Notes - Chapter 1-6: Giffen Good, Risk Premium, Isoquant
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Microeconomics: branch of economics that deals with the behavior of individual economic units consumers, firms, workers, and investors as well as the m
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Chapter 2 the basics of supply and demand notes. N without government intervention, supply and demand will come into equilibrium to determine both the
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N theory of consumer behaviour a description of how consumers allocate their incomes among the purchases of different goods and services to maximize
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N mutual fund firm that pools funds of individual investors to buy large number of diverse stocks or other financial assets. Summary: consumers and m
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N microeconomics branch of economics that deals with the behaviour of individual economic units consumers, firms, workers, N macroeconomics branch
View DocumentMGEB02H3 Chapter Notes -Substitute Good, Isoquant, Diminishing Returns
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N materials include steel, plastics, electricity, water, and any other goods that the firm buys and transforms into final products. N when capital is f
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The lower the price of the product, the higher the level of utility. N when the income-consumption curve has a positive slope, the quantity demanded in
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Chapter 9 the analysis of competitive markets notes. 9. 1 evaluating gains and losses from government policies consumer & producer surplus. N deadweigh
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Chapter 7 the cost of production notes accounting cost actual expenses plus depreciation charges for capital equipment economic cost cost to a firm
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Chapter 8 profit maximization and competitive supply notes. N model of perfect competition rests on 3 basic assumptions: (1) price taking, (2) product
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