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Textbook Notes for Koskinen

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NUECON 1116KoskinenFall

ECON 1116 Chapter Notes - Chapter 10-11: Private Good, Excludability, Economic Equilibrium

OC2994262 Page
26 Jan 2015
40
The uncompensated impact of one person"s actions on the well-being of a bystander. The market equilibrium is not efficient when there are externalities
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NUECON 1116KoskinenFall

ECON 1116 Chapter Notes - Chapter 13: Average Cost, Marginal Product, Fixed Cost

OC2994263 Page
26 Jan 2015
17
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NUECON 1116KoskinenFall

ECON 1116 Chapter 5: Mankiw Summary & Review

OC2994263 Page
26 Jan 2015
17
A measure of the responsiveness of quantity demanded or quantity supplied to a change in one of its determinants: price elasticity of demand. A measure
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NUECON 1116KoskinenFall

ECON 1116 Chapter Notes - Chapter 4: Demand Curve

OC2994264 Page
26 Jan 2015
17
4 the market forces of supply and demand : market. A group of buyers and sellers of a particular good or service: competitive market. A market in which
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NUECON 1116KoskinenFall

ECON 1116 Chapter Notes - Chapter 18: Marginal Product, Opportunity Cost, Cobweb Model

OC2994265 Page
26 Jan 2015
22
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NUECON 1116KoskinenFall

ECON 1116 Chapter Notes - Chapter 21: Ordinal Utility, Complementary Good, Marginal Utility

OC2994263 Page
26 Jan 2015
31
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NUECON 1116KoskinenFall

ECON 1116 Chapter Notes - Chapter 7: Market Failure, Market Power, Demand Curve

OC2994263 Page
26 Jan 2015
22
Ch. 7 consumers, producers, and the efficiency of markets : welfare economics. The study of how the allocation of resources affects economic well-being
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NUECON 1116KoskinenFall

ECON 1116 Chapter Notes - Chapter 6&8: Deadweight Loss

OC2994262 Page
26 Jan 2015
26
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