MIDDLE EAST TECHNICAL UNIVERSITY FALL 2005
DEPARTMENT OF BUSINESS ADMINISTRATION
BA 2801 – MICROECONOMICS FOR BUSINESS
December 29, 2005
1. (Total of 15 points)
The Ev-Mutfak Company produces a number of household appliances, including an electric...
The production possibilities (PP) curve is a graphical medium of highlighting the central problem of
'what to produce'. To decide what to produce and in what quantities, it is first necessary to know what
is obtainable. The PP curve shows the options that are obtainable, or simply the production...
HSC 1004 CRN 13703 PROFESSIONS OF CARING ONLINE 3 Credits
Dr. Penny Carr
YOUR PROFESSOR & CONTACT INFORMATION:
Office: (quickest response is through Blackboard Learn technical support e-mail )
I True or false.（2points*10）
1. If Good 1 is on the horizontal axis and Good 2 is on the vertical axis, then an increase in the price of Good 1 will not change the horizontal intercept of the budget line.
2. Henrietta's utility function is U(x1, x2) = x1x2. She has diminishing marginal rate of...
â¢ â G. A. Jehle & P. Reny
â¢ Advanced Microeconomic Theory
â A. Mas-Colell, M. D. Whinston & J. R. Green ,
â¢ Microeconomic Theory
â A Rubinstein A.
â¢ Microeconomics Lecture note
â Varian H R Microeconomic Analysis Varian, H. R.,
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Undergraduate Programs: Business Administration and Economics
P rofessor :
F ernando S. Machado ( email@example.com )
João Pereira de Almeida, Eduardo Catroga, João Coelho, Marta Francisco,
Mário Meira, Francisca Rebelo, João Brogueira de Sousa....
Adam Smith Biography
Adam Smith, the world's most famous economist, indeed the father of modern economics, was born in 1723 in the small town of Kirkcaldy, just north of Edinburgh, Scotland.
His father died before he was born, and Adam Smith was reared by his mother, retaining a life-long loyalty...
Applying the Concept of Elasticity
The midpoint formula for elasticity always yields consistent results. If elasticity is less than 1, demand for a product is inelastic. An inelastic demand means that customers are relatively unresponsive to changes in price. A drop in the price results in a decreas...
ECONOMICS 2004-05: SECTION 2: MICROECONOMICS STANDARD
• The demand curve shows the quantity of a good that consumers want at each price, assuming they have the effective purchasing power (income) to pay.
• The law of demand states that a higher quantity w...
Language of economics
Fundamental problem facing mankind
“Our resources are limited (scarce), but our wants (aspirations to good life , ambitions , needs, dreams) are unlimited.”
SCARCITY = Budget Constraint
Proof Resources Limited
* Time: 24...
FIRM BEHAVIOR AND THE ORGANIZATION OF INDUSTRY
13 The Costs of Production
14 Firms in Competitive Markets
The theory of the firm sheds light on the decisions that lie
behind supply in competitive markets.
16 Monopolistic Competition
Firms with market power can cause market...
Principles and Analysis
Frank A. Cowell
STICERD and Department of Economics London School of Economics December 2004
Contents List of Tables List of Figures Preface 1 Introduction 1.1 The rôle of microeconomic principles . . . 1.2 Microeconomic models . . ....
Microeconomics versus Macroeconomics
Economics for the Global Manager
I want to thank everyone for joining me today to review the effects of microeconomics and macroeconomics in conjunction with the healthcare industry. We will start with a brief introduction of wh...
The Art and Science of Economic Analysis
THIS CHAPTER HAS TWO PURPOSES: TO INTRODUCE STUDENTS TO SOME OF THE BASIC LANGUAGE OF ECONOMICS AND TO STIMULATE STUDENT INTEREST IN THE SUBJECT. IT CONVEYS TO STUDENTS THAT ECONOMICS IS NOT ONLY FOUND IN THE FINANCIAL SECTION OF...
THE REAL ECONOMY IN THE LONG RUN
12 Production and Growth 13 Saving, Investment, and the Financial System 14 The Basic Tools of Finance 15 Unemployment These chapters describe the forces that in the long run determine key real variables, including growth in GDP, saving, investment, real interest r...
Kotut c Samwel, M. Phil (Economics)
Economics is the science of scarce resource allocation to meet endless human desires. The modern economics science has two major...
Microeconomics study notes
Chapter 1 – Thinking as an economist
* Scarcity principle: AKA “no free-lunch principle states that although we have boundless needs and wants, the resources available to us are limited. Consequently, having more of one good means having less of another.