Econ100B Lecture11 - 5-13

Econ100B Lecture11 - 5-13 - Economics 100B Lecture 11 S...

Info icon This preview shows pages 1–7. Sign up to view the full content.

View Full Document Right Arrow Icon
Economics 100B: Lecture 11 S. Nageeb Ali May 13, 2008
Image of page 1

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

View Full Document Right Arrow Icon
Economics 100B: May 13, 2008 Administrative Details square6 Midterm next Tuesday boxshadowdwn Will follow style of problem sets and earlier midterm boxshadowdwn Not cumulative: Ch. 8 and Ch. 9 boxshadowdwn Covers material until end of lecture today square6 Midterm Review: Thurs., 5/15, 8pm-9:50pm, LEDDN Aud
Image of page 2
Economics 100B: May 13, 2008 Where Were We? square6 Producer Surplus boxshadowdwn Area between price and supply curve boxshadowdwn Equivalent to firm’s profits (but excluding fixed costs) boxshadowdwn PS(q) = pq – VC(q)
Image of page 3

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

View Full Document Right Arrow Icon
Economics 100B: May 13, 2008 Where Were We? square6 Total Welfare = CS + PS boxshadowdwn Deadweight Loss from interfering with market square6 Will talk about other forms of “interference” today
Image of page 4
Economics 100B: May 13, 2008 Govt policies that affect supply square6 Restrict # of firms square6 Raising entry and exit costs
Image of page 5

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

View Full Document Right Arrow Icon
Economics 100B: May 13, 2008 Restriction on # of Firms square6 Causes supply to shift to left boxshadowdwn Equilibrium price rises, equilibrium quantity falls
Image of page 6
Image of page 7
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern