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Textbook Notes for Ron Gregory

CLEMSON UM B A 8620Ron GregoryFall

M B A 8620 Chapter Notes - Chapter 17: Economic Equilibrium, Demand Curve, International Trade

OC11051423 Page
14 Nov 2016
4
I(cid:374) particular, is the responsiveness of prices to exchange rates greater for highly competitive products or for luxury goods, which are not sol
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CLEMSON UM B A 8620Ron GregoryFall

M B A 8620 Chapter Notes - Chapter 15: Adverse Selection, Reservation Price, Marginal Utility

OC11051423 Page
14 Nov 2016
5
Asymmetric information: one party to a transaction has relevant information that another party does not have: hidden characteristics (adverse selection
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CLEMSON UM B A 8620Ron GregoryFall

M B A 8620 Chapter Notes - Chapter 14: Weighted Arithmetic Mean, Risk Neutral, Risk Premium

OC11051423 Page
14 Nov 2016
4
Ch 14 managerial decision making under uncertainty. A probability is a number between 1 and 0 that indicates the likelihood that a particular outcome w
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CLEMSON UM B A 8620Ron GregoryFall

M B A 8620 Chapter Notes - Chapter 10: Price Discrimination, Deadweight Loss, Economic Surplus

OC11051426 Page
4 Oct 2016
8
Chapter 9 talked about monopoly"s optimizing their profit by using a uniform pricing. Deadweight loss is the foregone value of these potential sales in
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CLEMSON UM B A 8620Ron GregoryFall

M B A 8620 Chapter Notes - Chapter 9: Marginal Revenue, Average Variable Cost, Demand Curve

OC11051425 Page
2 Oct 2016
2
The sole supplier of a good that has no close substitute. A profit-maximizing monopoly sets its price above marginal cost. A monopoly"s marginal revenu
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CLEMSON UM B A 8620Ron GregoryFall

M B A 8620 Chapter Notes - Chapter 5: Substitute Good, Isoquant, Indifference Curve

OC11051423 Page
7 Sep 2016
2
In the long run, no inputs are fixed. Period in which at least one variable is fixed. Assumptions: capital is fixed, labor is variable. How extra worke
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CLEMSON UM B A 8620Ron GregoryFall

M B A 8620 Chapter Notes - Chapter 4: Utility, Indifference Curve

OC11051423 Page
7 Sep 2016
0
Economists use the theory consumer choice to derive demand curves from it. Premises or assumptions: tastes or preferences determine satisfaction, const
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CLEMSON UM B A 8620Ron GregoryFall

M B A 8620 Chapter Notes - Chapter 3: Arc Elasticity, Instant Soup, Demand Curve

OC11051423 Page
31 Aug 2016
6
Most important in this chapter, is cost data with functional analysis, cubic functions and quadratic and cesil analysis (nike shoe sales) with a cesil
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CLEMSON UM B A 8620Ron GregoryFall

M B A 8620 Chapter 7: Clemson - Economics 8620 - Book Notes on Chapter 7 - 9.18.16 - Jose Pena

OC11051429 Page
21 Sep 2016
3
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CLEMSON UM B A 8620Ron GregoryFall

M B A 8620 Chapter Notes - Chapter 11: Nash Equilibrium, Monopolistic Competition, Marginal Cost

OC11051422 Page
17 Oct 2016
6
The oligopoly model for a particular market depends on: the characteristics of the market, type of actions the firms take. Whether set quantities or pr
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CLEMSON UM B A 8620Ron GregoryFall

M B A 8620 Chapter Notes - Chapter 8: Average Variable Cost, Market Power, Marginal Revenue

OC11051425 Page
29 Sep 2016
17
A firm is a price taker if it faces a price curve that is horizontal at the market price. Characteristics: many small buyers and sellers, identical pro
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CLEMSON UM B A 8620Ron GregoryFall

M B A 8620 Chapter 12: Clemson - Economics 8620 - Book Notes on Chapter 12 - 10.24.16 - Jose Pena

OC11051424 Page
26 Oct 2016
9
Ch 12 game theory and business strategy. Interactions between polluters and those harmed by pollution: transactions between the buyers and sellers of h
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