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Economics Lecture Eight (view source)
Revision as of 23:28, October 27, 2009
, 23:28, October 27, 2009→Honors
===Honors===
===Honors===
*price discrimination
*'''price discrimination'''
*cross-elasticity of demand (percent change in demand for good X divided by percent change in price for good Y)
*'''cross-elasticity of demand''' (percent change in demand for good X divided by percent change in price for good Y)
*income elasticity of demand (percent change in demand for good X divided by percent change in income)
*'''income elasticity of demand''' (percent change in demand for good X divided by percent change in income)
*law of equiproportional marginal benefit
*'''law of equiproportional marginal benefit'''
*condition for reducing production (MC>MR)
*'''condition for reducing production''' (MC>MR)
*condition for shutting down (P<AVC in short run or P<ATC in long run)
*'''condition for shutting down''' (P<AVC in short run or P<ATC in long run)
*Coase theorem
*'''Coase theorem'''
*mathematical solutions and specific calculations
*'''mathematical solutions''' and '''specific calculations'''
===Equations of Honors Difficulty===
===Equations of Honors Difficulty===