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Textbook Notes for Economics at University of Notre Dame (ND)

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NDECON 10010Dziadula EvaFall

ECON 10010 Chapter 2: Chapter 2

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Economists approach the study of the economy in the same way that a scientist does. They devise theories, collect data, and then analyze these data in
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NDECON 10010LieberFall

ECON 10010 Chapter Notes - Chapter 1-7: Market Clearing, Price Ceiling, Tax Incidence

34
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NDECON 10010Dziadula EvaFall

ECON 10010 Chapter Notes - Chapter 12: Fixed Cost, Allocative Efficiency, Sunk Costs

Week 10: oct 30 - chapter 12: firms in perfectly. Industry: all the firms selling a particular good or service. Example of a perfectly competitive indu
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NDECON 10010Dziadula EvaFall

ECON 10010 Chapter Notes - Chapter 10: Network Effect, Inferior Good, Budget Constraint

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NDECON 10010Flannery MaryFall

ECON 10010 Chapter 10: Externalities

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NDECON 10010Kirk DoranFall

ECON 10010 Chapter Notes - Chapter 16: Market Power, Natural Monopoly, Profit Maximization

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Market domination (small # of firms) is measured using the concentration ratio: percentage of total output in the market supplied by the four largest f
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NDECON 10010Kirk DoranFall

ECON 10010 Chapter Notes - Chapter 19: Market Power, Making Money, Efficiency Wage

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Some determinants of equilibrium wages: compensating differentials, good jobs have lower equilibrium wages than bad jobs, compensating differential: di
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NDECON 10010Kirk DoranFall

ECON 10010 Chapter Notes - Chapter 10: Morality, Normal Good, Pigovian Tax

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Difference between the two reflects cost of the pollution emitted: q*: intersection of demand curve and social cost curve, achieving optimal outcome (q
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NDECON10011Eva Dziadula

ECON10011 Chapter Notes - Chapter 3-4.2: Demand Curve, Economic Equilibrium, Economic Surplus

Week 3: sept 4 - supply and demand, economic efficiency. Chapter 4: economic efficiency, government price setting and taxes. Consumer surplus: the diff
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NDECON 10010Kirk DoranFall

ECON 10010 Chapter Notes - Chapter 17: Resale Price Maintenance, Predatory Pricing, Nash Equilibrium

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Cartel: group of firms acting in unison in a collusion. Market feels the effects of a monopoly market. The cartel would decide on an outcome that maxim
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NDECON10011Eva Dziadula

ECON10011 Chapter Notes - Chapter 2: Comparative Advantage, Technological Change, Perfect Competition

Week 2: aug 28 - trade-offs, comparative advantage and. Chapter 2: trade-offs, comparative advantage, and the market system. Scarcity: exists because w
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NDECON 10010Kirk DoranFall

ECON 10010 Chapter Notes - Chapter 11: Externality

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