Economic Principles 1
University of Bristol (UOB)
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CORE Economy Chapter 7 - The Firm and Its Customers
- Summary • 6 pages • 2019
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This chapter covers the price firms are willing to set in order to maximise profits, as well as maximise the surplus they can achieve from the sales. It covers the effects of elasticities, and things which influence market power.
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CORE Economy Chapter 8 - Supply and Demand in Competitive Markets
- Summary • 5 pages • 2019
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This chapter looks at the equilibrium in price achieved in competitive markets.
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CORE Economy Chapter 9 - Labour Market
- Summary • 4 pages • 2019
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This Chapter covers the links between wage-setting and price-setting in determining the wage of employees. By looking at the graphs in depth we can find an equilibrium in the wages set.
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