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Microeconomics Notes

Concepts of Microeconomics

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88 views

Microeconomics Notes

Concepts of Microeconomics

Uploaded by

Ashley
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
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Elo 101 - C07! Riveigies of Hesasememics ; oth at Eeaamics : te ge ee Wd hoa nd ‘4 Fiat, da ceamernes) ni» ad. regolahans trol Fl ni Ceti aapenttl ak oy ay ‘ital: yas, boa good nesulf. Seaueiy: Cee yb renembr) tha ahak 4 Ane when you needed. “Samet ao! dle hive 1. “thats — Choice! b chanse whch lh fet to censune;(Coumer) or 40 pradoce (fren) a fuaabhes. Chore 13” Aaty Cash: catch ya) | a jue op initrder 40 a UE a ene EE ri = Wid. a "Coop nis) Proven Kevnes® & 0.1: ~ 1,649, 000 millon barrels Casomphn of onl) 1, 253 malian baels. (year 1.9, 000. -"18..0% wdc wh do 91353 i "9, Fads! Wee nek waning ott of eid ena Ua ets ala o. a echeal (iractog) lls ws be. guy eke = mong hands: a ore: ng Awe sect) fei Gt ad Chad os Cashob Lhe ob Example ile lank... 2 hed stily’ tad Fig 2 af ua — hed took Vhes Obs 2) he lDhes — Phes fooula be OL = by s-ulkt goo gue yp Ss Faches of Mreduchn: toys ced bo creck geoels ard» Bleed 1 Lad Sephyseablo Vine, detourcey poet fol, aldngy tempers, fe ran heme) 4 abou a lord ae Guireprencoaship! ongenignrs of Me: iatdey “oho Fedvormn Raslodty Becca : gph a catighs OH Scactby, chow, and. gperhnily cost Aue Aeaduchar Peasibilry Cv ( Pracchs texsuoly fasher (PA) a ae ; = fi os ATE doped pmacsrapnbpppalc bE pace eae Ets pork 5 ehicaene beast» AME direslabiereiorcey Gre ; ii once ek pave 82D cargo pice only pect & spo reed to this wa Hey con proluce Gre op in order OE pracy Sime ¥ anal to produce mae. Sone Vf Ys pont ls cnselerech & Pict % vachhctnt beewee ae Oat the aman A Rtsoyces AR wy “be the » pont oad ; hl am voattancle becase Huocore n oper o Nar Cogh Morte ae poe. Achiewe. “this rum ber poder. Y Csimer Choice Senter to 6B; conser bas. bilge 00k Push make. 4.. Choe behveen,,.. gical, goods, xh. Oller Gneps ; \ te Me Wet ing spel 2) Rosurne, Shedements’ kised! seme... 3) Rermchee Shlenends: opinion, bisedl Splements ¥ te dilierce enero the HB oc He corer Crowe Iie 5” He shpe He ue. the APB 5 cmeave’ soethiae 29,5") ; ce Class Gempe 3: Celwar Ye \ner Arch o& He Bllowag dag 2. Brad. Roller _ Porsidk esis) Tk moe breed te cat, too Boo Me mge| bee we anyme (As ue eat mow 200 200 * “bead te demod for bubte ques: cp.) 300 too Qe, ~ Bid o or daa se och gph, o a hypavheaw tans. Uren): sPsiae ob mag!) 5 breed, the demo fr buller goes olen. gebone ge betas 4 MZby = 100 = | ( : “Creed = ax 100 Guin emtinded * the dant good or sere tha Gensmers cal & an J yas oho purchase * abot Laws ot Demand aaieconeime ypophests thar the pace a (Allred. thacshel;- -.peoslvc ond guicbiy cloncacled| dre. Preiges oF Aoneruy reriely elated,’ Cotes Lanbus,.. (FL, Gb) 1340) ; Dew Soledie’ a table shoung 1K celoranshp bebwedn.ss quar, dlnanded and He pree of 4 concn y Coens: nba’, Ay On Demin Conve la nak - representoanory . Mele % fda. Wo OI. a relchonship * Suow as ana baer, heathy “00 és sayiqen Od He spreesahon "S x fammockyy, Gens eas TEfoor! =f desi san! 2 iyy SG slaw 2 Chess Grampe 1.” i Teoy! He Rice cb a spaducr od He Quahty Memeded a : ngsenely related, CP Y ue nan Qs ATES one = & 4 5 ‘ Bad 8. on Q = a-bP Meena he trad, Cyne!) Shs in Me Mena Coe Bis diy wp) sBsi Gn kaa. (5 SOS eg Re 45. & leo ds {lo as 410 Furthenal Form! Cheng, w_ Od. Chonge wd Aad = a-baP BQd=da-bP > yop Verwed infldacee a Ce eT D Products aun Pree. Pa aay: geek y 2) Arerage lacame (rovmal vs. vv goods): 1) = 8 Cada std) 3) hice d tthe Gocok (stkshistess vs. Complinestts) 4) Tastes: IT: 1 odwcel shift) 5) dumnbuhey oF Inearve 2) betanon ; 2) Spector & the roa “eg. Sucks going «plalaay aed an. preduerans * There ae tiny ober pokenhal uibberes b HE darnd owe depending, 09 He iy A poi respon es ots bischgehs elo, 6.8) the = t : f © base. “OBase, 78 |. © Bae Har, | © lables ob pplehen= — @ Mae page ppdenrg x, — © Cfpwroty Cay. beyames ree Rekexs d+ prduthens 0 eed advecenet tension 4 Shit othwacd Betoaing A ocr ow @l ow Lf movlehor moe vith a gy Spr. A/F Sopls, 7 Gueahy Sipled: the arany "3b 0 good ow serce:” heh “Arms Lush _ be -sipply. rn Spply : an eemoome hypothor ther He’ piace a Mastek; — peodyc and uaah ped Ope bancpier & Gon, ane Ceteas Rac! ” NM ms 'g40) \ es ee Sippy, Sched tebe. shows He relahinsyp behween quabhy Soppled ord te prue of a Caomnihty, CP Sippy Conve’ a groghiccl repescatehn ob He relchnshyy behvech qucahy® Syppliel ad the price d & commen, CP Class Geen 2: “thang: Te Free ob « praduct ad te Gandy Spied ac on reletec, P “Gsa0s bean] to Qa ee a & @ finchoral Fein Qs=e+dP Movemera chang the Spy Cove Shits mn He Spy Come: sli af tst the Ose, ES OS UR ne 4S as SO palaie 410 Ke) : £103, too As, ee ee * ' fi 30 Q ° Tis 25 3 Woot) forcheral Foren: Ladlslgat BQ = CidaP Lon bévabeHd? Suoply Wnences! 1 fadoels Own Rice: PPPs Cala te core) 6; | 2) tree F Inputs! Teas of lebou =| ly Citar shee &) Technol St D) Goverment o Tax, Shudies 5) fue & othe Aoduels ©) Number of Sppliers PD) Gpecthens Le iture a theea_meny other poenhal uPtverces to the Aspaly carve kperding, cr 1A Fe RN eto Mackey sharers tach byes ad sells, Qan,...negohade, He exe of goods x Somes ‘ Say, Shek movker, Black. martes aeons Meter ice: te Puce ab Uubich Quorhey “Venodeel of a geod us ie te amor. 49 qorhly Sfphed. talibsium Gd Extess' Péread Gad eae ure Bees 20 tg ota fe Yo +40 "Yo mee “40 % +35" *60 i a Gs egal *% as er ilas lop - «00 to Fo # (then He pnee below. FSR iy eee atte ben ee Pie 0 above eperhbrumm, Nemerd 13 greeter As Gqulicxionn pant : x i 8. Gelliosivn’ quan 14s 5 C: Epub price : Ho Gaon dition. WF = Excesy Sepp’ Madhemabodiy: : “vg Qd=a-bP Sore for 2. : Os end P abcd? sAlasicoupscl, dbo cele Epuliban Rice wei Lise. be Qd = Os ae-bP Sd? a-bP = ad? pyre at bP) othe 2 PREsabe ae bee bid trotr P gate Wide i> Hlorehoscttbagdu bs r _ ashen : ce Sp Qos? To Sole Br Quaabhy ab Gulibrumn : M oS Ql = a-bP* : O*? adsbe ; Gd = ab eat : * bid ; ibe) Need) “Ubi S tenes (bid) Qd = abi) -b, 355 (bod) Ga = albrd)=ble-<) . (urd « petadab’ ve» ae Desi -adels bre © Cass Geanpe 3! Find He Pace ab Egulibave, Qd= G0-.(/2) Qs 2 Malus Ge Os Q bo- Ue)P = 244 (%)P & ~aq 24 & b0-24- P= yP a +bP +4aP 4 se 0-24 = bP HP ed Fer P con Of Qdebo-bP* t body = (mi WP Qd=Go-Mol 368) iy tart Q*= 156 L | PY = b0>a4 aa Check! 6 : a+ ¥%q Oe Qs 224+ HRY Phe Be MY 2 BB-BOY YBBR) res X Hs WF 4S.G x) Cass Geample Fad the Pace ab geal docu Qd= gs ee Qs = 2a coisas P zit aE Pasabaty P ecpiecll eat a errs fee = eP vas Yes - 221,00. =A ee hee Psa stich! x ‘s #2). asi BER. tad i PM = 184. 841998 eso Ode Hes RP OFS 259, 069109 aa Sey Bauare!! ee He tw cones Qd = 200- faP Wall Mok vile. in Gs = Yor hP Quod], the parce — becomes nejabe!> Qh 98/17 Elavreuy How Seassbie an wcluridaah = Boma matkel ~ raged Change price. Slope: he Sore, 0 gaadben, a line leer, spe: uadlne, or grade, 1 Slope = bay 2 dy ts dO": B-P am kk RQ, Sige ob 4 inthe. hneer. Anco : 3 “i2i=Vieuis a he 4 Pot hn he curve” anol & He Slape” of He bie: Res “Well yoo Widlpe a the © s fom ae oo conve. a ie He wit Le oderwame ot te be va & me Plesye) Pld 2 fie) ft oe oo E » Ghmah m= 174s" ae aali> Baer, eal fice sharky Yemandl! cc a “db Ye eckent ‘bo which te Gocanny domaded: a a J predic: responds fe a change x : Pree "FG tke tg of D2 pons’ on Gh sci a Pre be —— ie anaaiege| PR . Mvsiiral| = jal. (Que = Quand LO! ; ose Pro ~ Pream)/ fa’ Fata te lee Yoo Bice Uesheu bal tei wall ae be negtine. Thecive, hecioe, uae ‘ays Ste Absolle vale f ‘vénend - [neprehng fice lasheuly A Yomanel: ? peanaaelas <~ Welashe. ] fdgnepht hn < - Ebshe : A Ghen slpe gets Fhtter ()), Becarse clenercl lacreeséy bubs Sony remburs the sine, shee is & Shake & daseguitibnum. Based on He Leuss oF Sipply onc pegs th stoned, shan free goes tp, mon ule gil eget hewn quarthy sypled goes yy, ad man pte sito Cheney, + nh dimoded oun. Auseporhibsum g Ti id Soak ~ == 1 Pace uerkop, Harcoe, both curves onhl @ aed Gd went down (to He (ett) Guliowum v reeched, , ord Qs. went’ op Ue Hnght); { vod eguihbaura, ae a Shoe Sysiem’ A-sysem that atl Stay in egeihbawm . unbl it co, Be berced: a ob epeiliboum by @ctenal Aries Unseble System. Psion thar wari oa epeitbnuen 4 a Sho saad Goon. & time, FS 3 Comparaive. Sbies..Carpacng hve egulioyyen Stakes bebe ord aber (Tho Hicks, Value Gheages, “Vb does nob =e: mehin or _ poco od Gpirl, 1934) ob Chage (apn Siekinedts* », deanteg) Dygpaeme. Andysss: Ceonomng. Orly so Hab traces “Gur the (nt a Ahoeanse;. pabhuiot adlyurhment from ove gperlibrum yh fie ufo.) to Another. : hel Galton Arcos’ the: Anclysis of a, marker 1a Lsclahan jagnonng diy Redlpcel: hak mary Come. broom adlececl Changes trom okher markebs. Gerce Gpeshbrem Alyys’ the arslysiy ob dhe eeonomyp's rev eer" Grok for Hho couse, yah Simul Itneasky, recog niging \Yhe ‘iakeathen &e vate.) amd Redbick amoung, he -markets. ‘ Ott. S/F Falbeck. Mechanwon | Somettieg happens i oe market, ib A huss all” chee martes Cont Pree. Dee Gowsaments Called Pace: He speerhechan by Hélgatenment | th me 2 Munna nd for maxcimugn, prices ord Seraces.! To be Fheme, withe thee Unseh: Above or below He epuilibtum price, depercus on the : yom Chycenve & He Govern mens Puce Floor: the minimum) price tha con be chaged dr a St pradiek as dekermnad by the government. Ses Because ‘ob He: Pace: Hoe , the. Mego Martel comoh reach epvilioram Citteged)s hoe! auth be a Corsi Cxces soppiy wv He tracker ebleob eat Dyonees Cx only abtoreh bo hee 4 Coren: number usorkers: tho wee, ae ee pce och the ‘hag sera 4 Qowndent) ad si Desens se ie pean ahetiacn st mp coma bana a hafoowagle Pree Ceding the mawsimum pace tak’ can be chargeat var: axprdvel:asdetemnad by: the goreament. Sieve bistc, w@ bce Flog ladlods Tee Ee beni Fak ok meng howe. because ck conrel, © He denord Se tered hoses v hgh, bu Hessgply uv low, thee dre Gag Thee AU be) canst eget og, Hertel, Aro, meng. peaple: alk “Tove Hex pases. ae He na lodlads tot canes enagh.cooney. HAL. ahayys tapes jeod fra Calg: iti SNe 4 alesis Que he aah Ee Bey bata fhtec by Marke) th . Danna: tre gine He consume places on “Consuming” 4,” prechuch Spy: Heglowes pace tems tee a & selether product Veedangghr less: he ceduchan 1 Carsumer surplus eral proclucers Oovy Serpus Cased by tsmebvg He cobpub tb 4 Prac theagh “pnce co ghantly. (cer comes” buck!) « hepsumer Sooplis (C8)! Benebe as a anumer > ; Racer ae > hrkey’ leg. Maxemyag Urhing® eviey Consamer adempr fo make Phemschel as wel dt sey iby can ia He. TT Croumshinces fines in iby Macrm.gahon Cordon wh eoperditvees so Ha He. frm te last dolla on eth eo eg Formula 2 ae a . “toy hy ee i 3 / : td ‘ree Cc bal a _ leds Ye abkenave cembeahen of sue be fechas by a Consumer. z re Q Grrr interme Maa 2, ee. Gg: Goh = #|00 Peta wal earl Books = 45 leech to by ago UO renes'* Mones © 82 Dich Indifloence. Curve! a Gree showing allurnche canbuannis FE fwo peerlucks,, “each oF uhh gues the ame unbky “er $ihsFachon 3 xcs) : ils i Sibshtviea Cftct he w sdenoded tb 6 good hod. “rahe? he be nik cand + z 3 Chai ncaone’Ceaslent) Qb- Qh. Income. Ebley: the choge ‘a quay clemevled a & gocol nésylhag bom a cheage. 1. -1acame Lhotdng.. paces | ~ (ayy) Oo @"" 13—clonectal Neshia te Me pri Re Prod poe eee te ore Sieahhees.. cwonee endon We ve wo the Scbsnichos® cies. 4 “dees beheer* Xe ait Yau te Iacane Etecd Lired Goods! uber wtame eases, GH nevases (fby > 0; pose Inlotar Goods’ uke weome userccies , Qe decreases (hy £0, poe) Goods’ goad etait & snk ogret. Gbkn Goods: ikenor gd Rr Ubi, He mcame efleck, oukwenghs We Gbinhher eles go that the denord conve 12 poirely sloped Cwame eHeck > Sbshhunor elect) Corum Serplo: The cra vAliy gained! by consumers fron pay SS 140 TEX y Bidiiek eo ee ecole 8 lower ried i which Hey. weil Mee been: preperecl — tee) « 22 eswng, ek mad, 4 Yong wdivekal UMC enol Truhdlorrce cons, tote the 6d eal P a good! ord plo ied ot by eS : 25,8. Ri 2 Using. he. quonnty dence ak each i aia ek 2 treter demerc graph ie P, A tbx-- - - - eK = -- Gin. 2s 0.5288 ae ae TN en ery “ToS i 8 Oh] +QQrQade ee =<8 TRO Olmtet ef ee 4 duadloah UME sel ladiHeente Cuneg cause the meter dloncral cure to cheage actorclngly! Chops Be 26/19 Produes n He = ra ified her. basic. prod an Svat of Cegnanic ms Haag Selon as wsutdley bem, vo tag: Govencrere orgenygahurs id pradece. Gath od Goviees. She Eee RA. with & Single .ouner ho has. Compre autor Over He. bunds... déewsens, “adv ee er responuble: fe the debks sda Ne, (loo, lady ly / 100% profi) Puabrecship: A bem. that has than oe Ouner. Busnes Feasiony at vsvely made yointly ard cach qu He cer ae respec | Ae Hay deb of ey Gainshp + SD-SD echt by Undead tn» bl oto ~ based co 9, Greece ae Corportihon’ A fiom witha single .o¢ enere. ther. one eucens Coperann » @ egal ean auch bas ak He same ve ad respon siblidre a an. rdurclual.. aanecs /: hades have Impited, Tabhing Be dhs because of He corporan vel. by Ablie.s dracledl on, The Sock mocked, aryare cm buy Sues Ly Prete prrvaiely. Ovncd shares, not on, Ya, shock, market 1 Crows! SI ae ented by He. govenment Q Fen D Real Caprtar: egrpineriaiobiyylMadysllte se sn, 4) DFwreal Capral: bors gc) stocks a 'y Cords (debe issue) A tis, sare seienitas, 1 Sects Ceptyncht tn durderds Goat da Fin = beng neachsical, - Lectlasied Firm Mycinizing poche wu “mesa, dkersons, A> & Single Decision erating unit sal “Ooh bn) fol lt ne esnbat + (orig weesed 10 tho > IRETC T= RTE ey couse!) Pi atiur costo Pe eaphiats = ynphea Explrea Costs's hi: costs ; tak of Apples, epuipment, ere. benpher Costs + cuwners Aalky Cat fb cepitol ad hme be 0c: Gone uo) 1ehe eeiick the “epaymens ete, Powe. NOON Mitel Bane ese ot sahih could. nave been chat eb, “pinegs ted! bespereee s He epugimenk Lye, Time. Uline ele ‘covidl have been are woth He ime pee try (selting Hes! product Mow ars TR=TC 4+ cyl Sniy_ Nisam) 4* UD) ~ eggs) = Cera OLcpadporst Loins Tepiar = Freel cash Venable Casts Fixed cost. Cesta thab clo par Change with’ preduchen (een, ohlines jefe.) Vanab¥ Costs! CoSts thas do Gheage uuith produchon (vost of Appia | epapment; eke. ) me 3 Conceprval Time Hongens (hae nothing heals uth “hme *) Ghote Run! fin bseaer. hire pensar” na tdi dh Some facto sapurs “are “hwed anct - can be adysied by only Chora hhes Ly at teat V Reel faclor t Dleng, Gin’ Fn absiecr period of hae. long arough A alt inputs bo be varied kak within’ Oi ecobag, Kernologial Faeneuisrk Wau feckrs ace vandde Exe Hho ogy, /metkool AF parlychar t « D Very Leng Rec’. An costraes. pereed. ck hme. lerg..crergh | whee He techanolesical Ramewsk, sselh a> a resell ob new Merhens cool selene och melodiag . dy & pertalic Poducnean ta He Shark = fen S Teal Pracloct : the lola guahhy oF ape Produced ta the Shot ry by “uhh Yarvous Gongs of He vanable Prettin with o feel Bel c ptt 1 OP> Q) tiny sens tons 40 io] Dau 2D wsortens (virabic facto) in SEEM staeh (hed ier) ha 40 / Thole el prodecian dscns n Preage Product! He axgiese prodd wv He a an podkad TT by oathy cet unt dh aierieble heboe pul with &. + ck Avec chy. (ae “ weak adock: He quanbhy,.of oupA. priduteal, by. .each he Addanenal.. vile. of vareble = on ) Slope oF tla product ¥ Side. nole & va, ay Coen cases waged aeaied eebers bo Slope ! Law ob Yamnish Fedechniy! "Sh ne ui thob Hoerg. quaahhes a 4 te Poor ae a Suen ant a fom fechx5, S Nerginet pane "yee eee Mm aad WH spent fel ai , MP > AP > AP wv risa : ject MP x AP» AP is Fala me = AP APiy ab tb maximum Th phe wards ie Lahn rnig’dinat 13° ABOVE Epub op cazage, luhen mopeds Below Gene, jepildoe aceige a lnlermedeate Gees [Somces' tn, goods.oc sermces’ thal are! usd as Rokr iapuls (vaneble o Reed) producing otter goacks » 0 Cundohiels ties; Ee for a car (ee Gel ares ay godt or Kance Which uy Consumed by tad users. (tir Br personal v3e) Baa | Tamme pe POD ee Consumer ot Run Naps =P @= PUK) >. Qfpubs TC» Taal tant redesnee TE ~ Tela | verche case logue, Qipuig TFC» Tabak have! cask ~ @ Te= The+ Tve @TP+ Q @DA= 1C/@ oe AFC + Ave @ hP= 1P/L @ te = IR /aq @ ine = SP Jol Winex = IR-TE FMR TR, Tee R= Ca* Bicc AQ @ AR TR oe) = £0, - 20, Q = O-Q ® m= wR/agt IE: prsces shay dhe same, Fi : MR = Pa, - PQ = ®- Oe Me=P FPremage Remme sil clioins Gquak pace. Fhuewe, ifthe pace, 2265 AST flit ae, (co Meegnal Reeve wi! abo alesis ‘equal “yore. Shot Run Cosh Crue. "bated on He lao 4 Spry 2 fms. yall produce tae as price vertexes, ABOVE ter AUC, ad Aloe, Ye MC come. fweege Yirolye ConhlAVe): Uke @ lovee qucihty produced, ars ae hyper, thea sia tal maior, beg bo acregce. Taal Cas (ATC). Gawerge wih MVC bh never cross bediuse as prelecur.> iene ses; egg Fesagl Ces Playp tess ba coe wm ATC od Ave Pied 1 trees Marginal Cos) (HC)! Shpe ob “Tea 'Cesh; Ussrys takise obs ATC at 3 miaimwer porat . een hy (He AIC): Aten fhe 2 i Ines Oeil dae down Cortturen (PeAvc): te frm cull cease produchan if pice fells below He Ave, #Y- precede OF the Spply cove te AVE of He frm & Hongdital Summaten: ar) wp tk idea dual sbaans gttoing wrt Ls suphed OF A guar puee,.we” are © re hb Cela ee marteh syply Q1+Q,2+0:3 = Gone @ fh, Qa) 4022+ G3= Qmds @ Ah P — > Sah nin oy s ‘ Peducer Suiplus? the Ocha Oihings ~ Obkaned. ‘ be ren a paw fr a =] which ts higher: tree? He price at which He fom wd have been: pepoad* He ee. evade = Efe an demorted! fs oe Bx 0 et Ney. 271} Prcdicers va the bass Rn WOR Techavel Prewrey uher G guer number ih dameinedl nr Suh « way a fo ewe - inge He leveliie dotpub “tak yl bar fins chowe He Prdlcher mdhocl thet (exa Gy ents) Prodces ay guen level wb ovfpok ab ; the lowes ~ possible cash | Mes A B= tir 4 IOP GB on beg Labieresssd OA er ne. gy \ fay et * ( Mexingain Nmencal Eraaple ? Cordinan a oie Sth Oh A Th. me Pi .w Med basil uptrend 1, POR re 1 1g Yo Rs be 4... 260 ME then QF AA MRM, tha Ob Proddue here MR = MC __ 28S e nt ‘ © ined Oi P : D=A=mMR W=TR-TC e we ee . fs Td BQ ©. RC t Pa tr PQ- Ga ; ThO,- Rb t= (h-P) Qs tr = Lass “he ngidive | Sa Rp , B: : AL 2 6.Q, 20 TR-TC 1h, Qa spas IRE y= PQ - (AIL) @ tr: f -(are) @ re FQ,-R@, We FP fI.Qiyuaaraicnyas PERT deregk Gen, PAC» Less Prats Poke olan. peck far: Fuga: to.,Enker WIE PS ATC, ther probk cad: incase 1a Bros. @ lahen De te, Prony teeth thesspnarbeds WIE PeAVL they Shubdaun oral clecrense in ems B20 Cuckly a Firm Shud dawn : a ssc by Shubdeun tine, . depeols “yor hows fas Herc copia ‘becames obsolete, Hak is the lease i dtkes ec the cptel bs decane. Obsolete, He legge Je Bintan sustern eananic [os Opsolele Rake thevcake of dre it tates be caplel ty becare cbrolete Sunk lonrevedse Cs!) blow rale tne cae C9) 4 fab rate. Lorre Cpires (os) Plnsone, Clases (begrreyhon) Buildings (wood /Shxce) 10% /ye Prtomobiles Soh ye Compl Guipment 4SAl ye fopery <'200 100% fye Chokes 0. Now IY NF oo Tn rene Ceuin\ then @ SPeahe vdlindual an. os a POE ches” subraet —Cankro| Over Gifaradue SOr'sermce +0 delermune Signih He. ee on which others Shallhawe Accel Ao st. 6, CFL/MHL, SukTel} Bark ot Graclg tne. Assumphon.s 3 @ Price Setter @ fem dae ta dle th rate proluchon, ot Seles which ables He » Markel price Iban Susshh abe Ftc He Bem sells some product Met ‘ Got‘ eaitl, be subshhited by jpalee F Cen eles nt) @Obpt v He ln Oty tadhuidly 1's ovbpu . —— 1) He fore ee @ Bactiers Eons positon in He nt ; hal neweomes. Deawes He Dimad Curve 4 Manag TR=FQ SABLTRloe p Ween * fee BR Ae 016. Sg uhen Loh, Hicis oF FS My «= NK A 1. eGe SWB ADK, $e a 13 2 34oryI12 % IY a 28 ly: gq Graphncoy #IMR wah nksece- He X-ayrs at p execs halt wey bedweer te Longin Od here DAR ialeoecls He coax Ik demon! od Spey. curves t 4 ennopoly are He sane os He Moikes CAUSE, te nasrepels o the aly feo prdves 1 Hest Potheler Proolud- Qn, fe 3 the oman Wh shot He market (proclce lew thea juin l@m))..Gadl mre cease. the pie fo behek Consumes are withing tops Ay thats. quookhy (moe Hen, equslibeun &3y : ie BATS, ¥E price 9 af (Ato. Qrecle. than mT “PARLE ws ATC y(the Ts Poh dy Fem wk e ahwways make a Pooh b Ts hen Gouecngerk_nkeaenes, Gd. iacvecses AIC Les. kexes Fans are Skil matits ¢ prose! aoa 7 cured orn Jb Ficlae? vole [BPs AMD thi prodkat, Lf Pe Are Tiflen Shida @ lua a mprked “Shuclve y He hem Peense pee Wilh PS ye AR = MR Hey Fuck Taker BaP = AR ZIM: Hea Price selec @ ew much et Soll. me ymes thar Qt oh If Hane Yaa ow Poodle (here OK = Ct Bjynal Be hers bo eee ofa lt pot od ned ciety oak @ then P< Ave er aa Sit Pe AVE Len ddan Cy ether these h G morepol Creag fe ae a @ Also no. bhy ? Cathe goemmet debes ai Ofte Aiba beke eas Yheer are i Ye Sine. amant, us Aeertarag Har ett si In th: Sthahan, Yechrwy . wR wh moet bo a aa Ga Cihy /Coewn Cathe Her!) BS mi tage A a oy Gael: @ Avon ob Colksion bewcer a off Nees Qunedl Ab syparestiag.. Conpehhar. \ ms thenyhe, bal" or tn park... Hie bucaminah on _..Minopolies) ‘Supply 4 we WHe ai, a ik pale, then Slowly merease, | Quarhhy. a clecrease. pi coh reach Gelbaun, «ple. Deno © moe wneleshe, This Am Ths Ac 4 mae eleshe, ths tell Loe, Jess prokt 16. demo. fers. cabs loxe ctmore. prohl- ab goes dawn. Mating maey.on 2 eared gens Chaar Mains arovers tnaclep (lors. oul narra). probi- on sprackuchsa A sherk aad boy) S cide proht box) Choper I (hoy. 77 linperdeet ian acl rok, Behaviours: abe Uapestec$) \ Pe Teh. Q bS m ony! a Of : e Srchee He Gaelien Secs ~iSSroetbiey vi. Tela, Fens ra a ~{dbiiclpant cc Resevecd Boneaes i. 1 7 «I hk, 4 (ge pig ~SIk wm (-Sdo coplage, : ~ 350k Gratl (S 6Retrpfloyes) fs ~ Chk Mero (1-5 eaxployees we £ : ~SE% Opkano od Ghebee. LAAS6 ER lutdan Pronnces (130,497, ~I5.I% AB) ~bh Mahe. Feoireey Korth Prrencan Indushry , Classihcahor Sse (WAC) 4 ema Resne Ken Fashag, orcl “2 tinny, Oul, al “Gas Gebechan 2 Unlhes a ‘ 13 Gastochen is 3-33 Manukaduan 4 “wholesale Y E Ys Rela Trade, ji 48-4 “Thmspatebons od Worthowng ig ft 51 * Infornahon ad Collin lachsbrres ae 52 Finance ard Inurance Cauntsahor Robo 4he rather of dalek mouvet Sales gr Same 6 Sxec. 0.63 Uther measure ok rrackeh achnly. controlled by Pronet:Shagher OF 4 speed umber b the uudlushrys le trated Coed 0969., firons. “The peventage o Wal sales fra Gt conbeibuied by K largest vos wanted by ocde ct takes Share . Hebealsh| Index = Yilnkishae)* Monepolishe hhan ; Poseses He Same, Chavaclershes A830 7 Paslect Cugeh bury that Bem. Sell Gilbecenhaled prodects! Fums...frce a recghely Sloped demand curve... ancl pray = pet, He short run. - Toothpaste aa! Tovlet id Fast Food Industry ~ A ca _ Bewenes. ey ae e #Vikeadadted Feducls fold Ce! Wktenk peaduck Chodek per; 2ply os i ee, be ie products wal si didlo! pactes na (es) silt KOS Had Assunphens. «, + ital Pee Cer! a fun Hho car Alea sxeites-ph, pradacdrgy ad Stiles without abkchag Ye market price. @dWrerraied Frodluch: all brs in he ua fh Aheqibabed’ wuss Roducte, idl tnlled ge rt perdechrsccis @ ciel! Op Redo 9. Zh wadvadiad Bey hes an: ahem aint fe desing Cuapad A Oras fn cQ da 0 fen’ 48 thes tek Vdlasiey prodluchan..i:b, the, ,gencack podugt. @ Freedeni. ob fates od Gah Aiy.rew Bemis cele | Gert he hee sige 0. Wed yorwdunns et | Cease Producing. Diwng He | lone. = TR Pq. AR» TRIQ=P MR= x TRfa@ ee as ; © Graphically Ae fue, O.. TR AR wR ep ( U mC ge aS i & 10. q Ye 1a + [eis eg ie. 4 i a ad) ¥ s < ts (P-AILQ A O We foht! Seply Gre is ob the fem, Nenad Gree. 1s dor He het BvT by He pachelar product: A newy Arm” ante fe marker, so He macter fonened, tneowrs We donord Curie br He udlughich 28 GALL: Suita, Dror - © To Rede or KE Produce? Lav Psawc, Hen produce: Tf Pe RVC, Her shurchosn a ee Ste 1s He hom gperabeg pene le i PebsAReMR then Cue Tater i Pe d= AR EMR ther Pree Stee @ lw mch bk produc ? yt mes me tha OF oc IE mReme ten Qy. Peoduce where MR= Me Lag Bn Deus 03 © oh Sijnat fr fiems to ty fo. cater be AAC than probt ad nay emarly dry do ane @ hor Pe Ave bms emt the marke ly Ub Ce twe Hen shddoun 4 iy athe F thee hegen bo @ smercpolshe Carpehhan 7 Oe, beras Prater of Exly ed Bob & 5, dys) e AE Th the dang san}: Maripelsne® Canjetthaan A plhony ams gf prokls becwee a neo Ni ind der the marke HA tad" products, thee Seymegh the meckel-, = and Geshe, a fren _ bout nok spe” neal bo “epsch Same ad. ah Shu-dicton © Excess Gpacary Theorem ! & sthahy where in He. logs an, Cxeler Mengpolwvhe Cowpehton , the Wn tal, by produce. an ovipuk lower Hen Yael % Some concepk os hich tmaniges ls Unie Casts, el Veedwegnt Loss | here unt cash of the mrvpolishe. Competitor Wal be higher. Phen. neteSauryy. Therelie, moncpoiohe. compehhay kad bo lead, fa Aes pused or ewasteol ACpeaN The, davon. dee eps mer ot her Micheal acdits q Q e oi we “the eae oie gt cep ake Came a branch ob applieal mathemahcs arel ecenemics tak .Srckes .SUvahoas., where! mulhple,.plagecs mabe: decsuns., Wan atgnpl 1p, .maeinyze. thc rehams. Ib provides a, Armal modeling Approach 1 Soak Siuahons in which: hea Makers .witedch With okher geals Come Repreertahen! 1) Geenwe, Foren ~ Alleus vo bo. beck-Prece Moves 3/l has be Came. * 1) players ; 2 : a J cwisldble” movesi( shrategies ) iit) pecaBckion of Pies oFls Ae tech. steolegy Cugibinehe” 1 ae eS : Syamerie.’ plage A ad B have He same posible moves Ly Nsypnedanc player A col B have: ciHferenk possible moves i) Sevsiee wet Ni pa sim | Ly 3ao-Sum ' thee 6 mre wimer col we laser 4 Ron-geooun’ win-win sitvahan a Stinllbagous ‘ech aiden) 2 ‘ La Simutincous! beth players move at He dene hme Ly Sepuinhal' Players moe one ab G bine iw) Reteek Whrmahins al lapels Indanasechah Ly Peskeck: pth plea kno He a PIE moves er iS. Lylopatea * nee pliyer «brow He Proves ¥)_Infnilely_ lang Games. si ly Games tap don't td Axa very long done _ cureeme which makes both player |S aase of Hob Hey woul have a tooperarecl (rormad firm, Simulddneors Sf Gome wih impede iakrmohon) : pth sSqulibourr ox epeilibetum Hak reals when cee hem ia an indestry 13 Currently dang Pe bet! thar U ah, gun He” cum” behanour Hhe oth, frm a He vadhahy in He absence OF Calltion i # See pk boc cn pevow Pye e Crsunecs ikmmal 4 game Hor has 4 Ran-conpeshet ee Type ob aperhve Behanou- wes uno Aelia collusiaa - cnvschs v i © SL) ipliok Cellguin > gh Hons bys chug. carted) i Iyges. of tne Behauigur ot Verackets sit Canpebhon “iin vahay | 7 aa Olygopols " i * ae tt Olgepoly Pr indushy thet ; Gankatns doy or more Arons ab lecgh re hich: proclces a sigmbcank Aron & ithe —tpdlhry i dakod oulpuh 4 : Gu Regaat Uareden, Fe ecb, md Kele (948: ok hansie iat Le) AL Te ae Sufi At Ds bias a Fem will. pace acerding. be Ube they behee He oes ul do 5. Co0e. Subol Oe boas all Bems a the nelislny,. Sell cnigpee. Pecducts ( subshhvFeable aly vs He iaheting) 8, ed Frtms. Make tp the ogling. Oph: . [eas ene Ambre more im @ Bueaes to Fy: Obsleckes pleced..on otlng Jet TE bemy Compete, pte) erases, price decreases, 1h! the moet reaches eyeilibown i Pehl, aecn To * Geman Hhagacy . 1 yess QV + Conpchton —}Maropor: sae. bon Rice Take Price® StHer tora _Fims fin 8 ay [Pred ad_ Gab fs o TE Ps Ave ten produce. If Pe Ave fiz shud Fh P=H=Ae= me then Price Taker. If Bd=AREMR then Price Iinesme dn GF IF mRetme — then OY Colwewhere MR =e \ Giodudu od Blache EF cerg Poduchve CHlrcenagy * tohen Aim? dhooses Omang all 1. autsloble..produchon. methools % Produce va, 46, gtr leetl of ould at He lowest posible cost (produce at minimum ATC). Allocarue Haney: a stwahon ia Uich the market prce fr each good uv equal to, har. good! 's Me, (P= inc’. + oltagnok Oaghh od “Mognat Cor W Scully wu equad . Aliocanve oe. 2 Peieney Sey fé | aes bececk Compehho, lenges fe bh Fie..a- Pecbegs, hon Fremy_ 0 kek. A ave ‘edachicely dere as Oe hniwchey en sos bau ey Spell 900 thes: og naniageanse. they.» Produce 07 produchnpoBibulines beyncary.- th pan Poss nes 2 lowe Gash. Fens vo f ah lowest Gosh. Hom elect Compthhs, ae G30 wi lapadech Conpehhyn are nok pe mp ra Allocahuely... CFhcient because, Alleca Chuck boone thes whee face i Grad hey, do ok prodias..\-heve bE coe) Jeb cu epoek,.. Pra. ¥.equak fC. oro b tk me MBs rd goat Jo mC, Decdweaght low clio ests tov. 30//7 anon = b Fomoe icery . an Etoncamc, Regprahon’ & form of en vakywerbon deygted jo ubberce behauar of Aims cel iMdriduals 1a, the. privade Kober. Sovwe. : i kins saClude.. 2D Pole Expres: on membess cing by Pages ma pal Taxes 20? lax oe the same ce, Ys progeesie br (lll cals bird ca_vtame), Pe Nord Olanership! Ye goer cleat 2) ae 2 sa ouk Beat ph ities $e ani — ‘Guin ceshyp> Se more Sotuallse wW)-Letns ad Leen — ‘pene fend. se = b prweke a ued _ Or : fotnice_oy Sree. He W) Tox Experdiboes = “bemlor fo publ. Sonia (ae) | ¥) Gaby Iitoeds wo fivale Cops: Guueromenl- ges egatey He Peasele Companits, Tubs asks: | Te 4 Stab on their boing ia ebay vi) Moat Soasion’ ‘Bien cenpaves abo ceniphianee aha genera 18 Gumed «OF Arrowsiag ° chagces wy’ Celera “Ateas, Such as... Las tr 1) Ries’ dueling Fares, tn wage, cerioin agri products i) Spl ee lucences, cecyparnal, dng 1 inc bral quolas co a ali public utilihes, Plpehaes v) Duselogare ck \Wfvenah on! Seturihes prospechses, Conk lebelha ‘Sinaia: eke isster het od epley-siaierde vw) Stedads Be Bas er Wace. ie gere ok Childress hrys, quo | ¢ si) Cob Senda! tefucemerh = rs aw re tomman Corer or Po ty Givamaaie 0 hicag or Sélkag geuds or services = layesin. Policy’ policy designed be pohibk Ue... J: Ta ae ones pan fos manopaly business. firs. hon Alot Per ie | Popoge cad Iakespeetehaa Baw Specat Remeckes oth fa Vi Olerces in Releran ho: Cerpehhoor Poot vil. Lecgphve (avtehag, Aachees. thie Vl) Mathers Reville. sby:"Talounad Buk IX Wuohhabie. Titacachans os Copter |S nse Biel erensriak te, opal Machel Had, Mace ios Ppuee weal . Capita . bo - Hw A ged ~o Ke prrcbese a a % Gupmen- . ein oe ” Aue tT anpise dal wok. loo Hague Cuark, api ea hy puthase. iaeal a Orel pay workers Whe gos ace bang madle. [Fascha J Bok prams Fums Wal ae fe sek lens Geant)» © ink lord es ea @ fms pay ny 4 the beak wate codec @ bak Fre wakece tiny te Samngs Gecanb dee SIF Gnd: a benual cewky sed by a haven or fovenrment Gs a mens borrowing “lore term finals. Bordls Are bprcally Wssued fe & penad ab. Severe .yens ord Ge paifeble fon mahriy. Pails ot ¢ Cond: \. Face Volue’ the principle Gmovne i 9. Copan Rale: Ye crrourkFo'be pact per yea lideresh) oe 3 Mahnhy bale! the dale He bord musk be” pard ; U, Mert” Price’ Ye meckeh vehe oho He bmal fresnt Valve.’ th valwe now cb cre Moe payments or seeyph mide wn He fhe, Lop Aue braun 6s Wuconed Resear Valve Plea here... = Gavel he naked ales rele Csi n= number & perrocls 8. $100 bod, "100. Capon’ vate, 3 years, Fo werest © Year PV Valve. D = ey | too /(OOF)' 5, 993.46 2 Fteof leaon\ 67.34 3 ~ yoo! {hoos? §— © 643.93 Valve Cebebkel, tart hide 241810 FAW, Copitcd Macket a oc A Hal mate works Ya ome as ony other iu . mek i tims of 1 s Sits in demand cal 1 2 borates \ o Qc J Lhepbe le a ib 4505 : Basu Funghins, f., Governmenk ingested se sencr gust "Governorert dels (Maopaly on Violence * ~whea: He gattnments - Mmonopaly us owe aol Anchens with eHechvescesinchea a. tk aa ut, Uhrens lr Stlely dicey ot Heir es ceonany, « og sonak lines Goentt her pn eaiaypase Pemnes. Aloud ES “thot © Coonmendl Ceara fre inte Provide uomane cavelahun of He athens keisun Makers dudinabyss_li ame Makes prude 4. Shey br tunovahon. Od a.) po Nisgg mm maka lug Serdleccls $ Shree ttel? feimt 4 dectinclyehan. of Conve ses 3 (Macke- Faxluve. bee 2/2 Meckeh Faulure: a Shahn in tich the bee market does Not atyeve allocahve aie (xine), Four = Tea ts Sources Gee. i) Market whe han, Ol ol: D bekenelihies hoi, cere 0 on Stal Abe dlecly — uae produchan o we =. gala bine Scand-had Spoke, te 3 Mbie Goods: ‘ oc Zee thot con anita pr baie ha in Gap f pe elomcl ct Merl Nbharahon Ayrncines” pity fo — hnhoema@hon — heh Irasachi wn He ae ps. Maal aed nl Ace Selechon {irs Pal lnkmenhan, Gocomet Inkeverhan’ in addition to ra falure, Hee “govtcnmen! also has broader worth gals to Gnsioler ten dlecrdins bo ba ilervene: in He markebs 1) Ingane. Nshiovhon ° Hee ere lox bachts D Rie Prousren: police hee depict ent, ete sor o ee end labour, Mamurm Loage Repasiblu milla ee guy Foy 6 en ee eens behat? fon their ca yews Crono é Spiro Gl macro usve> \nkertnhan Tools methods used by He Gonment to Weve in He marked: i htevenh or T0y Redlutribubhan Megrems: tees peitthes (9, GST) 2) Abc Pow faecal sbehease ee 3 en 5: Gia

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