Myeconlab Study guides, Class notes & Summaries

I encourage you to buy the full course packet WARNING: This class is subject to constant change, make sure to read the notes carefully to ensure your best purchase. Received 100% Contains 4 pages 10 total questions and answers

6 pages of hand-written PDF notes for MyEconLab Microeconomics by Pearson, Chapter 1: Economics: Foundations and Models. Subjects include: - The Economic Problem that Every Society Must Solve - Economic Models - Microeconomics and Macroeconomics - A Preview of Important Economic Terms Definitions include: - marginal analysis - trade-off - opportunity cost - centrally planned economy - market economy - mixed economy - productive efficiency - allocative efficiency - voluntary exchange - equity...

5 pages of hand-written PDF notes for MyEconLab Microeconomics by Pearson, Chapter 4: Economic Efficiency, Government Price Setting, and Taxes. Subjects include: - Consumer Surplus and Producer Surplus - The Efficiency of Competitive Markets - Government Intervention in the Market: Price Floors and Price Ceilings - The Economic Impact of Taxes Definitions include: - price ceiling - price floor - consumer surplus - producer surplus - economic surplus - deadweight loss - economic efficiency - ...

3 1/2 pages of hand-written notes for MyEconLab Microeconomics by Pearson, Chapter 2: Trade-offs, Comparative Advantages, and the Market System. Subjects include: - Production Possibilities Frontiers and Opportunity Costs - Comparative Advantage and Trade - The Market System Definitions include: - production possibilities frontier (PPF) - increasing marginal opportunity costs - economic growth - trade - absolute advantage - comparative advantage - product markets - factor markets - circular...

3 pages of hand-written PDF notes for MyEconLab Microeconomics by Pearson, Chapter 15: Monopoly and Antitrust Policy. Subjects include: - Where do Monopolies Come From? - How Does a Monopoly Choose Price and Output? - Does Monopoly Reduce Economic Efficiency? - Government Policy toward Monopoly Definitions include: - monopoly - network externalities - natural monopoly - market power - antitrust laws - horizontal merger - vertical merger

3 pages of hand-written PDF notes for MyEconLab Microeconomics by Pearson, Chapter 14: Oligopoly: Firms in Less Competitive Markets. Subjects include: - Oligopoly and Barriers to Entry - Using Game Theory to Analyze Oligopoly - Sequential Games and Business Strategy - The Five Competitive Forces Model Definitions include: - oligopoly - game theory - business strategy - payoff matrix - collusion - dominant strategy - Nash equilibrium - cooperative equilibrium - noncooperative equilibrium - pr...

4 pages of hand-written PDF notes for MyEconLab Microeconomics by Pearson, Chapter 12: Firms in Perfectly Competitive Markets. Subjects include: - How a Firm Maximizes Profit in a Perfectly Competitive Market - Illustrating Profit or Loss on the Cost Curve Graph - Deciding Whether to Produce or to Shut Down in the Short Run - The Entry and Exit of Firms in the Long Run - Perfect Competition and Efficiency Definitions include: - perfectly competitive market - price taker - average revenue - ma...

2 1/2 pages of hand-written PDF notes for MyEconLab Microeconomics by Pearson, Chapter 16: Pricing Strategy. Subjects include: - Pricing Strategy, the Law of One Price, and Arbitrage - Price Discrimination: Charging Different Prices for the Same Product - Other Pricing Strategies Definitions include: - arbitrage - arbitrage profits - price discrimination - odd pricing - cost-plus pricing - two-part tariff

7 pages of hand-written PDF notes for MyEconLab Microeconomics by Pearson, Chapter 3: Where Prices Come From: The Interaction of Demand and Supply. Subjects include: - The Demand Side of the Market - The Supply Side of the Market - Market Equilibrium: Putting Demand and Supply Together - The Effect of Demand and Supply Shifts on Equilibrium Definitions include: - perfectly competitive market - demand schedules - quantity demanded - demand curve - market demand - law of demand - substitution ...