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### Econ 4010 Lecture 10

Course: ECON 4010, Spring 2009
School: USC
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Word Count: 363

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10&gt; &lt;Lecture Review: Study Questions a b c e d f g h i j k l m n o pi q r s t u v w x y z

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10> <Lecture Review: Study Questions a b c e d f g h i j k l m n o pi q r s t u v w x y z
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USC - ECON - 4010
&lt;Lecture 11&gt; 6. Production We have so far focused on the demand side of the market behaviour of consumers. Now we turn to the supply side and examine the behaviour of producers. The production decisions of firms are analogous to the purchasing decis
USC - ECON - 4010
&lt;Lecture 12&gt; 6. Production Q1. Isoquants can be convex, linear, or L-shaped. What does each of these shapes tell you about the nature of the production function? What does each of these shapes tell you about the MRTS? Convex isoquants imply that with
USC - ECON - 4010
&lt;Lecture 13&gt; 7. The Cost of Production In the last two classes, we examined the firm's production technology the relationship that shows how factor inputs can be transformed into outputs. Now we will see how the production technology, together with
USC - ECON - 4010
&lt;Lecture 14&gt; 7. The Cost of Production Q1. Suppose that a firm's production function is q = 10L1/2K1/2. The cost of a unit of labor is \$20 and the cost of a unit of capital is \$80. a. The firm is currently producing 100 units of output, and has deter
USC - ECON - 4010
&lt;Lecture 15&gt; 8. Profit Maximization and Competitive Supply A fundamental problem faced by every firm: How much should be produced? Profit Maximization Profit: Difference between total revenue and total cost Short Run Profit Maximization (p.265) Profi
USC - ECON - 4010
&lt;Lecture 16&gt; Theories of Firm Economists do not agree on how to conceptualize firms. Different theoretical approaches are used to answer different questions. Neoclassical View Property Right Approach Transaction Cost Theory Evolutionary Theory Contes
USC - ECON - 4010
&lt;Lecture 17&gt; 16. General Equilibrium and Economic Efficiency So far we have analysed how - a rational consumer behaves given any fixed prices and income - a profit-maximizing firm behaves given any fixed prices of inputs, prices of outputs and techno
USC - ECON - 4010
&lt;Lecture 18&gt; 17. Markets with Asymmetric Information We have so far assumed that consumers and producers have complete information about the economic variables that are relevant for the choices they face. Now we will see what happens when some partie
USC - ECON - 4010
&lt;Lecture 20&gt; Review: Study Questions * Suppose that a firm's production function is Q = 4L 0.25K 0.25. a. Find the marginal products of labor and capital. b. Does this production function show diminishing returns to labor? Explain. c. Does this produ
USC - ECON - 4010
&lt;Lecture 21&gt; 9. The Analysis of Competitive Markets Supply and DemandEquilibrium Competitive Market Changes in Market EquilibriumElasticity Elasticity &amp; Change in Market Equilibrium. Consumer Surplus &amp; Producer SurplusDeadweight LossWelfare E
USC - ECON - 4010
&lt;Lecture 22&gt; 10. Market Power: Monopoly Market Power Monopoly Average and Marginal RevenueProfit MaximizationP = MC / [1 + (1 / Ed)] Monopoly Power Learner Index of Monopoly Power A monopolistic market has no supply curve.Social costs of Monopo
USC - ECON - 4010
&lt;Lecture 23&gt; Theories of Industrial Organization There are many applications of microeconomic theory (economics of health care; environmental and natural resource econ; labor economics; etc.) What is Industrial Organization? Industrial organization i
USC - ECON - 4010
&lt;Lecture 24&gt; 11. Pricing with Market Power Capturing Consumer Surplus Price discrimination First-Degree Price DiscriminationSecond-Degree Price DiscriminationThird-Degree Price Discrimination Bundling negatively correlatedWhen Products are sold
USC - ECON - 4010
&lt;Lecture 25&gt; 12. Oligopoly Def.) Oligopoly is a market structure characterized by a small number of relatively large firms, producing either identical products or products with slight differences, with restricted entry and exit, and limitations on in
USC - ECON - 4010
&lt;Lecture 26&gt; 12. Oligopoly We have assumed that our two duopolists make their output decisions at the same time. Now let's see what happens if one of the firms can set its output first. Stackelberg Model Duopoly Example: Oligopoly model in which one
USC - ECON - 4010
&lt;Lecture 27&gt; 12. Oligopoly Cournot Model, Stackelberg Model, and Bertrand Model Q1. Two firms have constant marginal costs MC1 = 1/2 and MC2 = 2. If they choose outputs, they face inverse demand functions P1 = 5 Q1 (1/2)Q2 and P2 = 5 Q2 (1/2)Q1.
USC - ECON - 4010
&lt;Lecture 28&gt; Review: Study Questions * Suppose that an industry is characterized as follows: Total Cost: C = 10Q, Industry Demand: Q = 30 P1. Find the marginal cost and the marginal revenue. 2. Find the equilibrium price, quantity, and the consume
USC - ECON - 4010
&lt;Lecture 34&gt; Evolutionary Game Theory Many people have attempted to use traditional game theory to analyze economic problems. However, traditional game theory is a &quot;static&quot; theory, which reduces its usefulness in analyzing these very sorts of situati
USC - ECON - 4010
&lt;Lecture 37&gt; Review: Study Questions * Find the Nash Equilibria and Mixed Strategy Equilibrium in each game. Explain how you get the answer. - Prisoners' Dilemma. Prisoner 2 Deny Prisoner 1 Deny Confess -1 , -1 0 , -9 Confess -9 , 0 -6 , -6- Exampl
N.C. State - MA - 242
N.C. State - MA - 242
N.C. State - MA - 242
N.C. State - MA - 242
N.C. State - MA - 242
N.C. State - MA - 242
N.C. State - MA - 242
\e /\ bso\ul\ tri,rMuvrr\1*C gi n ol *L,1E Ctb:.-.) u.l- 'l4r CtX t ;7\ U /va,\V.,luaSC-,t A &quot;r 1wl t n i&quot;',vt*,-lV.a lu e S o F o\C'cr,r\$-,/)'.-,c.-,*.; F-nc-i-\ c-r)\$c) /1 .i. Crif r'c&quot;q'(:Dl soF ClcS&lt;a.i 1 i:t-'-^{e{ I O Firr&quot;\ tA
N.C. State - MA - 242
MA 242 Test 1 Solutions 1. [5 points] Find an equation of the sphere with center (2,-6,4) and radius 5.Solution: The equation of a sphere with center (h, k, l) and radius r is (xh)2 +(yk)2 +(zl)2 = r2 , so the equation of our sphere is (x2)2 +(y+6)
N.C. State - MA - 242
MA 242 Test 2 Solutions 1. [10 points] Given the vector-valued function, (t) =&lt; cos(t), ln(t), t3 &gt; where t &gt; 0. Find the velocity r and acceleration vectors.Solution: (t) = (t) =&lt; sin(t), 1 , 3t2 &gt; v r t (t) = (t) =&lt; cos(t), 1 , 6t &gt;
N.C. State - MA - 242
MA 242 Test 3 Solutions 1. [10 points] If f is a constant function, f (x, y) = k, and R = [a, b] [c, d], computeRkdA.Which theorem was used in this problem?Solution:d bdbkdxdy = kc a cdyadx = k [y]d [x]b = k(d c)(b a) c aWe
N.C. State - MA - 242
MA 242Test1- VersionISolufi oosNO WORK:NO CREDIT!from (6,5,3)to each thefollowing of 1. (5 points) Findthedistance a) the xy - plane 3 b) theyz - plane (Oc )t h e - a x i s x t.?foay* A yi ,= r Q{ \ [e*a&gt;z +(s-o&gt;'G-o)- :- \{?42. (10 p
N.C. State - MA - 242
N.C. State - MA - 242
N.C. State - MA - 242
N.C. State - MA - 242
N.C. State - MA - 242
N.C. State - MA - 242
MA 242 Test 4 Solutions 1. [8 points] Given f (x, y) = xy 2x, nd the gradient vector eld of f .Solution: f = fx + fy = (y 2) + x i j i j x2 y zdz, where the curve C is given by the parametric equaC2. [15 points] Evaluate the line integral,
N.C. State - MA - 242
lr-l-rnot4O' rII lout \.C, rr\l-c f r ,-\ c! \ (-1\-.1-,c.r : ' \\tne i\ r^ec\ 1)c-,\ c.'-. it.t.{ (f ', \!,-,. r\ ',clrC-,n r l'&quot;r\lt,&lt;(lL,&lt;-\,t r- t1-&lt;- {-h+|.*7-a.,.1v,(,)Vg. Ic-,-vLl!:\.e,n I Tc,rr-^o\t'-?'c&quot;nl-,.\*
N.C. State - MA - 242
UCSD - BILD - 3
10/23/08Lecture 8 Population Ecology Reading Ch. 53 Midterm pp. 1174 - 1177Ecology study of the interactions between organisms and their environment Population ecologySpecies - group whose members have the potential to interbreed in nature and
UCSD - BILD - 3
10/30/08Discussion section next week (week of Nov 3) quiz covers October 30 lecture and all of Ch 53 come to section with your own CO2 emissions calculated exams will be handed back in section next week exam grades will be on WebCT Friday (Oct 31)
UCSD - BILD - 3
10/30/08Trade-offs and Life Histories Flower size in Begonia involucrata Small flowers arranged in clusters Pollinated by beesResearchers made artificial flowers of different sizes, measured # visits by bees Blue bars # approaches by bees Yellow
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11/6/08BILD 3 midterm curve (8 AM lecture) A - 128 150 (&gt; 20% of scores) B - 112 127 (&gt; next 30%) C - 82 111 (&gt; next 40%) Median 111 (C+) (74% of the points) Mean 109 (73% of the points) Your final letter grade will be based on your TOTAL nu
UCSD - BILD - 3
11/6/08Lecture 10 Community Ecology Reading Ch 54Overview - Community Ecology I. Community definitions and concepts II. Interspecific interactions III. Species Diversity IV. Trophic Structure V. Top-down and Bottom-up control VI. Disturbance VII.
UCSD - BILD - 3
11/6/08(+/-) B. PredationPredators - animals that eat prey (usually animals) Predation shapes many attributes - predators &amp; prey Claws, fangs, stingers, and poison of predators crypsis, mimicry, shells, speed, acute senses of prey1. Cryptic co
UCSD - BILD - 3
11/6/08Species diversity: two components Species richness (number of species) Relative abundance of species (evenness)III. SPECIES DIVERSITYCertain species have an especially large impact on the structure of entire communities *highly abundan
UCSD - BILD - 3
11/13/08Some places have high species diversity, tropical rain forestVII. PATTERNS OF SPECIES DIVERSITYOther places have low species diversity this boreal forest is dominated by only two species of trees; black spruce and white spruceTwo key
RIT - NSSA - 4002 208
Rochester Institute of Technology Golisano College of Computing and Information Sciences Department of Information Technology 4002-208-02 Introduction to Programming [in C+] Fall 2008 Course SyllabusREMINDER: The information presented in this syllab
RIT - NSSA - 4002 208
4002-208-01Revised Course Schedule as of 10/06Week 6Day M 10/6 W R M 10/13 W R M 10/20 W R M 10/27 W R M 11/03 W R M 11/10Topic Functions Functions Lab 06 Functions Classes and Objects Classes and Object Review for Exam II Lab 07 Exam II 10:0
RIT - NSSA - 4002 208
4002-208 Introduction to ProgrammingDay 01 Getting StartedObjectives Attendance and Introductions Review syllabus Computer accounts Discuss software to used in this class Write our first C+ program to print a message.4002-2082Rules of t
RIT - NSSA - 4002 208
4002-208 Introduction to ProgrammingDay 02 Programming ConceptsObjectives Review of standard programming constructs or program flow of control What is an algorithm?4002-2082Program Flow Sequence: execution of instructions in the order wri
RIT - NSSA - 4002 208
4002-208 Intro. to Prog. [in C+]Day 03 Assignment Statement &amp; Data TypesObjectives Numeric data types Assignment Statement Type conversions4002-208Page 2Data Types Integer (counting) char 1 byte short 2 bytes int 4 bytes -128 to +127
RIT - NSSA - 4002 208
4002-208 Intro. to Prog. [in C+]Day 04 Assignment Statement &amp; Data TypesObjectives Non-numeric data types Input statement Input Buffer Formatting output4002-208Page 2Boolean Data Type bool 1 byte that encodes true or false The value 0
RIT - NSSA - 4002 208
4002-208 Intro. to Prog. [in C+] Day 05 SelectionObjectives Basic if statement Relational conditions Nested if statements Logical conditions4002-2082Uses of if Statement Algorithm Used in algorithm to compute correct values. Data vali
RIT - NSSA - 4002 208
4002-208 Intro. to Prog. [in C+] Day 06 More on SelectionExpanded Conditions The condition of an if statement can contain the Boolean operators And Or Not &amp; | !4002-2082Truth Table for And OperatorGiven a condition b1 &amp; b2 where b1 and b
RIT - NSSA - 4002 208
4002-208 Intro. to Prog. [in C+] Day 07 RepetitionObjectives Basics of a loop Overview of 3 loops in C+ Mechanics of a while loop Use of while loop for data validation Writing code to validate input4002-2082Basics Group of statements wi
RIT - NSSA - 4002 208
4002-208 Intro. to Prog. [in C+] Day 09 More on RepetitionObjectives Review while loop for loop Auto increment operator Accumulator Compound operator4002-2082Review of while loopwhile (loop condition) { loop body } Loop condition is a
RIT - NSSA - 4002 208
4002-208 Intro. to Prog. [in C+] Day 10 Yet more on RepetitionObjectives Basics of the do-while statement Using do-while for a &quot;Yes/No&quot; loop Writing a do-while for data validation Writing a while loop to act as a for loop4002-2082Review o
RIT - NSSA - 4002 208
4002-208 Intro. to Prog. [in C+] Day 11 Introduction to FunctionsObjectives Why use functions? How to write a function Function prototype Random numbers4002-2082Why Functions To avoid writing the same code more than once write once, use
RIT - NSSA - 4002 208
4002-208 Intro. to Prog. [in C+] Day 12 More on FunctionsObjectives Models of function uses Documentation4002-2082Model of a function 0 or more parametersNamed block of code0 or 1 return value4002-2083Output Functions 1 or more
RIT - NSSA - 4002 208
4002-208 Intro. to Prog. [in C+] Day 13 Yet More on FunctionsObjectives Review of Functions Storage classes Scope Rules Separate Compilation using projects4002-2082Writing a function Function headerReturn type or void if no return type
RIT - NSSA - 4002 208
4002-208Practice Exam 1 Sample Problem for Part 2You are to write an entire C+ program to compute the cost of buying a number of movie tickets. The price for a ticket varies depending on the buyers age. If the buyer is 62 or older, the buyer is a