Econ Final Review

Econ Final Review - be redistributed among agents and taxes...

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Econ Practice Final Comparative advantage Uniform monopoly pricing Pareto Sets o Straight line when quasi-linear preferences Nash equilibrium Clarke mechanism (public goods) o Description o Problems Only works with quasilinear preferences because the amount you have to pay can influence your demand for the good Doesn’t always generate a Pareto Efficient outcome. Taxes cannot
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Unformatted text preview: be redistributed among agents and taxes will usually be rather small Payment scheme is fixed in advance so some people could be made worse off Cournot duopoly ?? o Firms reaction function Public Goods Asymmetric Information Marginal Revennue...
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