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### 9 Wednesday, September 13, 2006

Course: EC 201, Fall 2006
School: N.C. State
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Word Count: 117

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Wednesday, September 13, 2006 Microeconomics Air Quality 4 3 2 1 MC MC curve Is &lt;a href=&quot;/keyword/upward-sloping/&quot; &gt;upward sloping&lt;/a&gt; Textile prod. 1 2 3 4 5 air quality MC Good 1 Will have a straight line because the MC is constant Good 2 MC of Good 1 MC Good 1 MARGINAL BENEFIT EXAMPLE MB MB curve is &lt;a href=&quot;/keyword/downward-sloping/&quot;...

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Wednesday, September 13, 2006 Microeconomics Air Quality 4 3 2 1 MC MC curve Is <a href="/keyword/upward-sloping/" >upward sloping</a> Textile prod. 1 2 3 4 5 air quality MC Good 1 Will have a straight line because the MC is constant Good 2 MC of Good 1 MC Good 1 MARGINAL BENEFIT EXAMPLE MB MB curve is <a href="/keyword/downward-sloping/" >downward sloping</a> First one is really satisfying then slowly gets less thirsty 1 2 3 4 5 Glasses of lemonade Wednesday, September 13, 2006 MARGINAL COST AND MARGINAL BENEFIT Air Quality 0 1 2 3 4 5 MC MB 600 300 200 Total Cost 0 100 300 600 1000 1500 MC 100 200 300 400 500 Total 0 1000 1600 1900 2000 2050 MB 1000 600 300 100 50 MB/MC 900 300 0 -300 -450 1 2 3 4 5 3 is the optimal or efficient amount Supply and Demand- A study of markets Market = A group of buyers and sellers of a particular good or service Buyers and Consumers = the demand for the good Sellers, Producers = the supply of goods and servicies
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N.C. State - EC - 201
Friday, September 15, 2006 Microeconomics QUANTITY DEMANDED The amount of a good or service that consumers are willing and able to buy DEMAND the relationship between the price and the quantity of a good or service that consumers are willing and ab
N.C. State - EC - 201
Wednesday, September 20, 2006 Microeconomics CONSUMER'S INCOME OR WEALTH P 1. Suppose Income 2. Suppose Income P0 1. Suppose Income 2. Suppose Income D1 D Q0 Q1 Q , Demand , Demand Inferior Good (Ex. Ramon Noodles) , Demand , Demand Normal GoodPRIC
N.C. State - EC - 201
Monday, September 25, 2006 Microeconomics P S Determinants of Supply 1. Price of the product = change results in change in quantity supplied 2. Price of the inputs used in production 3. Technology used in the Production Process 4. Expectations about
N.C. State - EC - 201
Friday, September 29, 2006 Microeconomics Ex. 4 COMPUTERS P S1S2 P*0 P*1 D2 D1 Q*0 P S1 S2 P*1 P*0 D2 Q*1 Q* Advance in technology * Increase in consumer income (computers are normal goods)* Equilibrium Definitely increases * Change in price is
N.C. State - EC - 201
Monday, October 02, 2006 Microeconomics LABOR MARKET P Surplus \$6.00 W*0 (\$4.00) Price Floor S = Workers Surplus = unemploymentD = Firms Q*0 QMinimum wage has its greatest impact on market for unskilled workers, because equilibrium wages are lowe
N.C. State - EC - 201
Wednesday, October 04, 2006 Microeconomics CHAPTER 7 WELFARE ECONOMICS study of how the allocation of resources affect economic well being CONSUMER SURPLUS A buyer's willingness to pay minus the amount the buyer actually pays LAWN CARE Price P Per
N.C. State - EC - 201
Friday, October 06, 2006 Microeconomics PRODUCER SURPLUS is the price of the product minus the willingness to accept LAWN CARE Price per lawn P 12 10 8 6 4 2 Allen Q 1 2 3 4 5 6 Q # of lawns cut Toby Hank Kenny Willie Price Producer SurplusS Waylon
N.C. State - EC - 201
Monday, October 09, 2006 Microeconomics ELASTICITY is a measure of how buyers and sellers respond to changes in market conditions. GASOLINE P P*1 P*0S2 S1D Q*1 Q*2 Q ELASTICITY PRICE ELASTICITY OF DEMAND (E d,p) is a number which measures the res
N.C. State - EC - 201
Wednesday, October 11, 2006 Microeconomics TWO ROLES FOR THE PRICE ELASTICITY OF DEMAND 1. Characterization of points along a demand curve 2. Characterization of a demand curve (a b = b a) same thing P 6 A Elastic 5 4 3 2 1 2 4 6 8 10 12 B C D E F
N.C. State - EC - 201
Monday, October 16, 2006 Microeconomics If demand is elastic price and total revenue are opposite If demand is inelastic price and total revenue are the same P Slope = Q P = Q2d Q1d P2 P1D Q Q2d Q1d % Qd Ed,p = Q2d + Q1d Q2d Q1d P2 + P1 Q2 d
N.C. State - EC - 201
Wednesday, October 18, 2006 Microeconomics ELASTICITY OF SUPPLY Q2s Q1s % Qs Es,p = %P = P2 P1 P2 + P1 Es,p will always be positive because of the law of supply P P1 S1 Relatively Inelastic S2 Relatively Elastic Q2s + Q1s = Always &gt; 0 = Price elas
N.C. State - EC - 201
Friday, October 20, 2006 Microeconomics TAXES TAX INCIDENCE is how the tax in which the tax burden of a tax is shared among participants in a market. WIDGET Effective Price paid By consumers P S \$1.15 \$1.00 \$0.95 \$0.20 * Tax is levied on the consumer
N.C. State - EC - 201
Wednesday, October 25, 2006 Microeconomics Regardless of how the tax is levied, the implications are equivalent. The amount the buyers end up paying and the amount that sellers end up receiving are the same in both cases P CS SPc Dead Weight loss \$
N.C. State - EC - 201
Friday, October 27, 2006 Microeconomics MARKET FAILURE is a situation where unregulated markets do not provide efficiency outcomes. TWO CAUSES OF MARKET FAILURE 1. Externalities 2. Public Goods
N.C. State - EC - 201
Wednesday, November 01, 2006 Microeconomics MARKET FOR POLLUTION = Buy and sell pollution permits Eliminating pollution comes at a very high opportunity cost PUBLIC GOODS EXCLUDABILITY is the property of a good where by an individual can be prevented
N.C. State - EC - 201
Friday, November 03, 2006 Microeconomics PRODUCTION PRODUCTION is process of turning inputs into outputsINPUTSPRODUCTION PROCESSOUTPUTSEx. RESTAURANT INPUTS Building (A) Ovens-equipment (B) Food Supplies (C) Workers (D)MEALS = QPRODUCTION
N.C. State - EC - 201
Monday, November 06, 2006 Microeconomics CONTINUING THE SWEATER EXAMPLE Suppose the firm rents the machine for \$25 a day Suppose the firm pays each worker \$25 per day # of workers 0 1 2 3 4 5 TC 150 125 100 75 50 25 2 4 6 8 10 12 14 16 Q TC is increa
N.C. State - EC - 201
Wednesday, November 08, 2006 Microeconomics TC = VC + FC AFC = FC/Q AVC = VC/Q ATC = TC/Q = FC/Q + VC/Q = AFC + AVC MC = TC/Q = SLOPE AFC declines as output increase AVC is U-shaped because adding workers to a small work force makes workers more pr
N.C. State - EC - 201
Friday, November 10, 2006 Microeconomics LR cost are all variable 3 POSSIBILITIES Small factory Medium sized factory Larger factory\$ATC1ATC2ATC3ABQRED Line represents Long Run average total cost curve Diminishing returns set in relati
N.C. State - EC - 201
Monday, November 13, 2006 Microeconomics Pg 280 LATCECONOMIES OF SCALEDISECONOMICS OF SCALECONSTANT RETURNS TO SCALE The LATC is just a summary of the firms best short turn cost possibilities ECONOMICS OF SCALE = LATC (falls, output increases W
N.C. State - EC - 201
Wednesday, November 15, 2006 Microeconomics WHEAT MARKET P S INDIVIDUAL FIRM (Farmer) PP*P*dQ*D QAB C DqKey idea underlying the notion of perfect competition is that individual firms react to rather than influence The demand curve t
N.C. State - EC - 201
Friday, November 17, 2006 Microeconomics \$ MC Positive Economic Profit ATC PROFIT = TR- TC Recall ATC = TC/q = TC =ATC x q PROFIT = TR - TC =(p*)(q*)-(ATC*)(ATC*)(q*) =(p*-ATC*)(q*) =&gt;OP* Blue + Red = TRP = MRGray is TRq* TC \$qMC Normal P
N.C. State - CH - 101
Friday, August 25, 2006 Chemistry SEE BIG, THINK SMALL -Moles? -How do you quantify a material? TEXT SECTION 1.3, 1.5(part) Appendix A1-A5 Statements of observation ATOMOS (Gk) &quot;uncuttable&quot; John Dalton-1803 = Tried to explain mass laws (see section
N.C. State - CH - 101
Monday, August 28, 2006 Chemistry CASH OR CHARGE? - How do charges govern energy? - How were electrons discovered? Text : Sections 1.6 - 1.8 (first 2 parts) CHARGE AND ENERGY 1. +/- charges (Ben Franklin) a. Opposite charges attract like charges repe
N.C. State - CH - 101
Wednesday, August 30, 2006 Chemistry A TOUR OF THE PERIODIC TABLE - What and where are the subatomic particles? - How many are in an atom? - What info does the table give? Text: Sections 1.8 (3rd part) 1.10 &quot;Navigating the periodical Table&quot;/Website
N.C. State - CH - 101
Friday, September 01, 2006 Chemistry I'VE SEEN THE LIGHT How do we characterize light? What does light tell us about the inside of atoms? Text: Sections 2.0-2.3 LIGHT 1. Light as a wave a. Speed of light(c) i. 3.0 x 108 m/s for all light b. Wavelengt
N.C. State - CH - 101
Wednesday, September 06, 2006 Chemistry SECOND PART OF COURSE DESCRIBE MORE FULLY o QUANTUM THEORY o ATOMIC PROPERTIES QUANTUM LEAP How do we explain the wave/par hole duality of electrons? How are e- distributed in space? TEXT : Sections 2.4-2.6 QUA
N.C. State - CH - 101
Friday, September 08, 2006 Chemistry CALLING ALL ELECTRONS Where (in what orbitals are they e-? How is the periodic table related to orbitals? How do orbitals compare in E? Text: Sections 2.7-3.1 HIGHTEST OCCUPIED ORBITAL 1. Where is the highest E e-
N.C. State - CH - 101
Monday, September 11, 2006 Chemistry USEFULNESS 1. e- configures applicable to individual atoms rarely encountered when atoms bonded: configure changes 2. helpful in thinking about: a. how one atom bonds to another b. which e- are involved ATOMIC PRO
N.C. State - CH - 101
Wednesday, September 13, 2006 Chemistry COMPUNDS Ions and molecules Quantifying Bonding COMPOUND INTEREST PART 1 Are there different dinks of compounds? How do ions make compounds? Can we predict chemical formulas? How are they named? Text: Sections
N.C. State - CH - 101
Friday, September 15, 2006 Chemistry Compound Interest Part II How are ionic and covalent compounds different? How does covalent bonding affect Energy? How do we name covalent compounds? How do we quantify compounds? Text: Sections 4.7-5.1, 5.3, App
N.C. State - CH - 101
Wednesday, September 20, 2006 Chemistry ACHIEVING NOBLE GAS CONFIGURATIONS Metal + Non-Metal = Ionic Compound Gives up eNon-Metal + Non-Metal = Covalent Compound Must share eSHARING How do you draw the pattern of bonding in a molecule? How do you jud
N.C. State - CH - 101
Friday, September 22, 2006 Chemistry GET IN SHAPE What shapes do molecules have? What orbitals do bonding e- reside in? Text 6.0-6.1:.3-6.4(Part) VSEPR Theory 1. Valance shell election pair repulsion a. Misnomer: electron group (not pair) b. e- group
N.C. State - CH - 101
Monday, September 25, 2006 Chemistry BONDING DETAILS hybridization combine orbitals on one atom covalent bonds combine orbitals on diff. atoms new atomic orbitals (hybrids)Bonding Details - What shaped orbitals result from combining atomic orbitals
N.C. State - CH - 101
Wednesday, September 27, 2006 Chemistry COMPOUND REVIEW Are all covalent bonds the same? What info can you get from a Lewis structure? How do you quantify compounds? Text: Sections 5.5-5.2, 5.9, 1.5 Appendix A.8- A.9 BOND LENGTHS AND ENERGIES (sec 1.
N.C. State - CH - 101
Friday, September 29, 2006 Chemistry GAS STATION How do molecules move around? How do the properties of a gas interrelate? Text: Sections 7.0-7.2 STATES OF MATTER 1. Gas: random motion throughout container a. Molecules apart 2. Liquid: random motion
N.C. State - CH - 101
Monday, October 02, 2006 Chemistry TOGETHERNESS - Why would molecules/ions/atoms &quot;stick together&quot; to form a solid or a liquid Text Section 7.3 DON'T CONFUSE o In H20: H Covalently bonds to O Inside Molecule o Here we look at: One molecule attracted
N.C. State - CH - 101
Wednesday, October 04, 2006 Chemistry STATE DEPARTMENT - What happens during a change of state? - What governs melting and boiling points? TEXT: Sections 7.6 MATERIALS HAVE THERMAL ENERGY Kinetic E (motion) Depends on T MATERIALS HAVE &quot;INTERNAL&quot; FORC
N.C. State - CH - 101
Friday, October 06, 2006 Chemistry EXAM #2 Text Sections 4.7 - 7.6 SOLID FOUNDATION How do atoms arrange in the solid state? What type of bonding exists in solid metals? TEXT: Sections 8.0 8.6 CUBIC UNIT CELLS 1. Crystal lattice a. 3-d array of atom
N.C. State - CH - 101
Wednesday, October 11, 2006 Chemistry SOLID STRUCTURES How are ionic and covalent compounds arranged in the solid? What governs melting points? Text : Sections 8.7 8.8, 8.10 Element Covalent Compound Ionic CompoundMetallic Solid (ex. cubic) Unit:
N.C. State - CH - 101
Monday, October 16, 2006 Chemistry REACTIONS BASICS How can quantitative yields be predicted? How do we think about reaction energies? Parts of Appendix D.1 D.4 Text: Sections 9.0 - 9.1 QUANTITATIVE RELATIONSHIP IN REACTIONS 1. Dalton's Atomic Theor
N.C. State - CH - 101
Wednesday, October 18, 2006 Chemistry THE HEAT IS ON! How does reaction scale affect heat exchange? How does bond break/form affect heat exchange? TEXT: Sections 9.2 - 9.4 ENTHALPY CHANGES 1. Before: q + w = a way for system (reaction) to exchange E
N.C. State - CH - 101
Friday, October 20, 2006 Chemistry ORDER IN THE COURT! How can you determine if a reaction will go? Text: Sections 9.5 9.7 DOES A REACTION GO? 1. Cannot tell from chemical equation 2. Establish criteria to predict 3. Need to explain observations o B
N.C. State - CH - 101
Monday, October 23, 2006 Chemistry EQUILIBRIUM Part 1 What's a &quot;reversible reaction&quot;? Where does it finish? Can we change where it finishes? Text: Sections 9.11 (part) 9.12 REVERSIBLE PROCESSES 1. Freeze H2O vs. Fry egg 2. Reversible a. Products ca
N.C. State - CH - 101
Wednesday, October 25, 2006 Chemistry EQUILIBRIUM PART II Why do you have to &quot;light&quot; a combustion reaction? What dictates reaction rates? How are rates &amp; equilibrium related to energetics? Text: Sections 9.8-9.10 ACTIVATION ENERGY (Ea) 1. Our model
N.C. State - CH - 101
Friday, October 27, 2006 Chemistry PART OF THE SOLUTION How can we quantify solutions? What happens on the molecular level when a species dissolves? TEXT: Appendix C1-C4, Sections 10.0-10.2 DEFINITIONS 1. Solution: a. Homogeneous mixture i. Uniform t
N.C. State - CH - 101
Wednesday, November 01, 2006 Chemistry CLEAN UP YOUR ACT Why don't oil and water mix? How does a detergent help dissolve grease? Text: Sections 10.3 - 10.4 ORGANIC COMPOUNDS 1. compounds containing C a. Thousands. millions? (if no C = &quot;inorganic&quot;) 2.
N.C. State - CH - 101
Friday, November 03, 2006 Chemistry REDOX REACTIONS Rust: 4 Fe + 3 O2 2 Fe2O3 Photosynthesis: 6 CO2 + 6 H2O C6H12O6 + 6 O2 Haber Process: N2 + 3 H2 = 2 NH3 OXIDATION STATE OF MIND How do we tell if election transfer occurs in a reaction? Text: Sect
N.C. State - CH - 101
Monday, November 06, 2006 Chemistry LIVE UP TO YOUR POTENTIAL How does energy affect redox? What governs spontaneity in redox? Text: sections 11.1, 11.3-11.4 1. 2. We need to know E of highest filled/lowest unfilled orbitals a. &quot;Simplified&quot; orbital d
N.C. State - CH - 101
Wednesday, November 08, 2006 Chemistry REDOX REACTIONS How do you write balanced chemical equation for : o Electrochemical cells o Redox Reactions How do you calculate cell/reaction potentials? Text: Sections 11.5 GENERAL CONSIDERATIONS 1. Electroche
N.C. State - CH - 101
Friday, November 10, 2006 Chemistry STRENGTH How do we think about acid/base reactions in water? What happens when you put an acid or base in water? TEXT: Parts of Sections 12.2-12.3, 12.5-12.8 PROTON TRANSFER REACTIONS 1. Arrhenius acids a. Dissocia
N.C. State - CH - 101
Monday, November 13, 2006 Chemistry ACID/BASE REACTIONS How can you tell if an acid/base reaction is extensive? How do you write a net equation for an acid/base reaction? Text: Section 12.4,12.6, and 12.8 THE PLAYERS 1. Up to now: a. Covalent compoun
N.C. State - CH - 101
Wednesday, November 15, 2006 Chemistry pH BALANCED How do you calculate pH? How do you rank pH? What's a buffered solution? Text: Section 12.9 CALCUALTING pH OF ACIDS 1. pH a. a measure of how many H3O1+ ions are in solution (how acidic) pH = -log[H3
N.C. State - CH - 101
Friday, November 17, 2006 Chemistry ACID BASICS How are acid/base reactions differ from other types of reactions? How do we define an acid or a base? Text: Sections 12.0 12.1 BOND FORMING REACTIONS 1. Molecules with unpaired e- very reactive (&quot;radic
N.C. State - CH - 101
Monday, November 27, 2006 Chemistry STORMY WEATHER What is an electrolyte? How do you know if a salt will precipitate upon mixing solutions? Text: Sections 10.5 10.8 ELECTROLYTES 1. Definition a. Conducts electricity when dissolved Requirement: mobi
N.C. State - CH - 101
Wednesday, November 29, 2006 Chemistry COMPLETE SENTENCES How do you write balanced equations for o Combustion reaction? o Precipitation reaction? Text: Sections 1.4, 9.3, 10.8-10.9 BALANCED CHEMICAL EQUATION 1. Complete sentence that describes a rea
N.C. State - CH - 101
Friday, December 01, 2006 Chemistry BATTERIES INCLUDED Text: Sections 11.6-11.8 BATTERIES Galvanic Cells e- go through external circuit work is extracted (=-G) Dry Cell Battery 2 MnO2 + Zn + 2 NH41+ Mn2O3 + Zn2+ +2 NH3 + H2O (+4) (0) (+3) (+2) FIGUR
N.C. State - CH - 101
Monday, December 04, 2006 Chemistry ISSUES IN ORGANIC CHEMISTRY How are organic compounds classified? What are their structures? Text: Sections 13.1, 13.4 INTRODUCTION 1. Organic molecules a. C as principle building block 2. Compounds classified by b
N.C. State - CH - 101
Wednesday, December 06, 2006 Chemistry FUNCTIONAL GROUP Set of atoms that have specific reactivity They form classes of compounds Alcohols Isopropanol (rubbing alcohol)CH3CHCH3 OHEthylene glycol (antifreeze)CH2 OHCH2 OHGlycerolCH2 OHC
N.C. State - CH - 101
University of Texas - N - 310
Communication in Health Care SettingsN 310 Lecture #1Definition of Health CommunicationNorthouse and Northouse:Communication is the process of sharing information using a set of common rules Health communication.any type of human communi