Supplyslide 1 MODEL OF SUPPLY The model of supply is an attempt to explain the amount supplied of any good or service. SUPPLY DEFINED The amount of a.
Overview Aggregating preferences The Social Welfare function The Pareto Criterion The Compensation Principle.
slide 1Monopoly MONOPOLY A monopoly is a firm which is the sole producer of a good or service for which there are no close substitutes. The monopolist’s.
Big Data: Scale Down, Scale Up, Scale Out Phillip B. Gibbons Intel Science & Technology Center for Cloud Computing Keynote Talk at IPDPS’15 May 28, 2015.
Willingness to Pay - is the maximum amount a person would be willing to pay, sacrifice or exchange for a good Consumer Surplus – the value to a consumer.
Demandslide 1 MODEL OF DEMAND The model of demand is an attempt to explain the amount demanded of any good or service. DEMAND DEFINED The amount of a.
