Econ100B Lecture9 - 5-01

Econ100B Lecture9 - 5-01 - Economics 100B: Lecture 9 S....

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Economics 100B: Lecture 9 S. Nageeb Ali May 1, 2008
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Economics 100B: May 1, 2008 Administrative s No class next Thursday 5/8 s Organizing IICAS South Asian Studies talk on Thursday May 8 “Violence and Votes in India: The 2002 Riots and Elections and After” by Steven Wilkinson (U. Chicago) in SSB 107 from 4:00pm-5:30pm s What causes ethnic violence / riots? b Usually thought of as spontaneous eruption of emotion b But, oftentimes has a lot of strategic planning b What are the motives of the key players, and how can we decrease violence?
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Economics 100B: May 1, 2008 Where we were… s Discussing how much a firm should produce s Short-Run: b K fixed b Figure out L(K,q) b Figure out C(q) = wL(K,q) + rK b FOC: p = MC(q) b SOC: MC(q) is increasing in q: this is satisfied with diminishing marginal product of labor b If p > AVC(q), then firm produces, otherwise, firm shutsdown b Firm’s Supply curve is its MC curve (above the AVC curve) b Supply Curve for market is the aggregate of individual supply curves
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This note was uploaded on 07/22/2008 for the course ECON 100B taught by Professor Rauch during the Spring '07 term at UCSD.

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Econ100B Lecture9 - 5-01 - Economics 100B: Lecture 9 S....

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