Consumer & Producer Surplus Pages 126-129 Mr. Henry AP Economics.
Chap2
Econ 350 Chapter05
Basic economics 2
Appendix Tools of Microeconomics. 1. The Marginal Principle Simple decision making rule We first define: Marginal benefit (MB): the benefit of an extra.
Welfare Analysis. Ranking Economic systems Objective: to find a criteria that allows us to rank different systems or allocations of resources. This.
Ch. 2: The Economic Problem. Topics Production Possibilities Frontier & Oppurt. Cost Efficient Allocation of resources Trade-off between current and future.
Chapter One Homework due tomorrow in lab Numbers 10, 12 and 17.
C. Government Role – Market Failure IF A market is a perfectly competitive (in buyers and sellers)THEN The market maximizes efficiencyTHEREFORE The government.
Ch. 1: What is Economics?
The Economic Way of Thinking
1. Budget Constraint AB 0__ 1 2 3 4 5 6 P A = $12 P B = $2.40 Income = $72 7 6 5 4 3 2 1 0 510 152025 3035 404550.
