# Textbook Notes for Economics at University of Massachusetts Amherst (UMASSA)

UMASS-AMHERSTECON 103Alex CoramFall

## Microeconomics: Individual Choice in Communities Chapters 4 & 5

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UMASS-AMHERSTECON 103Alex CoramFall

## Microeconomics: Individual Choice in Communities Chapter 3

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UMASS-AMHERSTECON 203Katzner DonaldSpring

## ECON 203 Chapter Notes - Chapter 1-6: Five Guys, Budget Constraint, Indifference Curve

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As the price goes up, people will want to buy less. Five guys can make a burger for cheaper than a normal person: for them its cheaper for them to prod
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UMASS-AMHERSTECON 203Katzner DonaldSpring

## ECON 203 Chapter Notes - Chapter 7-12: Perfect Competition, Contract Curve, Production Function

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UMASS-AMHERSTECON 203Katzner DonaldSpring

## ECON 203 Chapter Notes - Chapter 7-12: Fixed Cost, Marginal Cost, Demand Curve

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UMASS-AMHERSTECON 203Katzner DonaldSpring

## ECON 203 Chapter Notes - Chapter 1-6: Utility, Indifference Curve, Tangent

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Px/py and m/px change as you go from one budget line to the other. M to b is the income a to m is substitution. New slope on the old indifference curve
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UMASS-AMHERSTECON 103Alex CoramFall

## Microeconomics: Individual Choice in Communities Chapter 1

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UMASS-AMHERSTECON 103Alex CoramFall

## MicroeconomicsIndividualChoiceinCommunitiesIntroduction.pdf

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UMASS-AMHERSTECON 203Katzner DonaldSpring

## ECON 203 Chapter Notes - Chapter 7-12: Isocost, Pareto Efficiency, Budget Constraint

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Pareto optimality in consumption: requires nonwastefulness of goods - xa+xb = x and ya+yb = y and muxa(xa,ya) / muya(xa,ya) = muxb(xb,yb) / muyb(xb,yb)
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UMASS-AMHERSTECON 203Katzner DonaldSpring

## ECON 203 Chapter Notes - Chapter 7-12: Marginal Revenue, Marginal Cost, Fixed Cost

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UMASS-AMHERSTECON 103Rus JanisFall

## ECON 103 Chapter Notes - Chapter 16: Pigovian Tax, Coase Theorem, Rush Hour

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UMASS-AMHERSTECON 103Rus JanisFall

## ECON 103 Chapter Notes - Chapter 14: Deflation, Market Structure, Product Differentiation

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