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Textbook Notes for Yezer Anthony

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GWUECON 1011Yezer AnthonyFall

ECON 1011 Chapter Notes - Chapter 7: Ceteris Paribus, Marginal Product, Diminishing Returns

OC12280313 Page
10 Oct 2016
9
The production process: the behavior of profit-maximizing firms. Firms purchase inputs to produce and sell outputs: demand factors of production, suppl
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GWUECON 1011Yezer AnthonyFall

ECON 1011 Chapter Notes - Chapter 11: Capital Market, Financial Capital, Social Capital

OC12280314 Page
14 Nov 2016
1
Input demand: the capital market and the investment decision. In capital market, households indirectly supply financial resources necessary for firms t
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GWUECON 1011Yezer AnthonyFall

ECON 1011 Chapter Notes - Chapter 10: Marginal Revenue Productivity Theory Of Wages, Diminishing Returns, Marginal Revenue

OC12280313 Page
6 Nov 2016
4
Derived demand, complementary and substitutable inputs, diminishing returns, and marginal revenue product. High productivity when a large amount of out
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GWUECON 1011Yezer AnthonyFall

ECON 1011 Chapter 6: Chapter 6: Household Behavior and Consumer Choice

OC12280314 Page
5 Nov 2016
4
Constrained choice: the decisions we make under constraints that exist in the marketplace. Every household must make three basic decisions: how much of
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