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Textbook Notes for Byunghoon Nam

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UWECON 200Byunghoon NamFall

ECON 200 Chapter Notes - Chapter 14: Market Power, Demand Curve, Takers

OC11721723 Page
18 Dec 2016
1
A market with many buyers and sellers trading identical products so that each buyer and seller is a price taker. Characteristics: many buyers and selle
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UWECON 200Byunghoon NamFall

ECON 200 Chapter Notes - Chapter 16: Monopolistic Competition, Demand Curve, Product Differentiation

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18 Dec 2016
1
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UWECON 200Byunghoon NamFall

ECON 200 Chapter Notes - Chapter 15: Market Power, Demand Curve, Natural Monopoly

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18 Dec 2016
6
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UWECON 200Byunghoon NamFall

ECON 200 Chapter Notes - Chapter 13: Marginal Product, Marginal Cost, Production Function

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18 Dec 2016
0
Econ 200 ch 13: costs of production. Profit = total revenue total cost: total revenue = p * q, total cost = market value of the inputs a firm uses in p
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UWECON 200Byunghoon NamFall

ECON 200 Chapter Notes - Chapter 17: Game Theory, Nash Equilibrium, Imperfect Competition

OC11721723 Page
18 Dec 2016
1
Oligopoly: a market structure in which only a few sellers offer similar or identical products. Their decisions also depend on other firms" decisions ab
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