Consumers, Producers, and the Efficiency of Markets
From Individual Demand to Consumer Surplus Today: Deriving market demand from individual demand; using reservation prices to derive consumer surplus.
1 Consumers, Producers, and the Efficiency of Markets Chapter 7.
Copyright © 2004 South-Western 7 Consumers, Producers, and the Efficiency of Markets.
C h a p t e r f o u r © 2006 Prentice Hall Business Publishing Economics R. Glenn Hubbard, Anthony Patrick O’Brien—1 st ed. Prepared by: Fernando & Yvonn.
Chapter Consumers, Producers, and the Efficiency of Markets 7.
Unit 5 – Marginal Utility. Categories Terms / ConceptsTerms / Concepts 2 ProblemsMore Problems Market Types 100 200 300 400 500.
Chapter 7 Efficiency and Exchange. Efficiency Pareto Efficiency –No change is possible that will help some people without harming others –It is not possible.
Problems and Review Chapter 7. How much are you willing to pay for these things and why? Can of Coke Pair of Louis Vuitton heels Tickets to the Super.
Review Exam Midterm
Lecture 2.2 Market Efficiency Govt Regulation
Introduction to Economics