review1 - Midterm Review USC Marshall Overview Consumer...

Info icon This preview shows pages 1–17. Sign up to view the full content.

View Full Document Right Arrow Icon
Midterm Review USC Marshall
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Overview Consumer choice – Utility maximization and competitive demand – Choice under uncertainty Producer choice – Profit maximization and competitive supply Competitive markets – Equilibrium and efficiency – Failure of competitive markets in the presence of externalities Government USC Marshall – Taxes and subsidies
Image of page 2