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Textbook Notes for EC306 at Wilfrid Laurier University (WLU)

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WLUEC306Jason DeanWinter

EC306 Chapter Notes - Chapter 3: Phenylalanine, Social Stigma, Budget Constraint

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Chapter 3 labor supply and public policy: work incentive effects of alternative income. Income maintenance schemes: aimed at raising the income of cert
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WLUEC306Jason DeanWinter

EC306 Chapter Notes - Chapter 5: Marginal Revenue Productivity Theory Of Wages, Marginal Product, Isocost

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Lo1,2 demand for labor in the short run. The amount of capital is fixed at k = k0, so the production function is simply a function of n (with k fixed).
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WLUEC306Jason DeanWinter

EC306 Chapter Notes - Chapter 8: Indifference Curve, Competitive Equilibrium, Diminishing Returns

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Wage structures are the relative prices of labour that are utilized to allocate labour to its most productive and efficient use and to encourage human
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WLUEC306Jason DeanWinter

EC306 Chapter Notes - Chapter 9: Natural Experiment, Random Assignment, Quadratic Function

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This chapter presents the basic elements of human capital theory and applies it mainly to the areas of education and training. The essence of human cap
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WLUEC306Jason DeanWinter

EC306 Chapter Notes - Chapter 7: Economic Rent, Reservation Wage, Opportunity Cost

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Lo1: the competitive firm"s interaction with the market. We first examine the case in which the firm is a competitive seller of its output in the prod-
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WLUEC306Jason DeanWinter

EC306 Chapter Notes - Chapter 2: Opportunity Cost, Inferior Good, Statics

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Chapter 2: labor supply: individual attachment to the labor market. Labor force participation decision: a decision to participate in paid labor market
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