econ101_14 - Econs. 101 Introductory Microeconomics ‘...

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Unformatted text preview: Econs. 101 Introductory Microeconomics ‘ Lecture #14 March 5, 2-008 1. Government Intervention in Markets (When Price unequal to MB or MC) 2. Long-Run Costs of Production a. Decentralized Authority b. Optimal Choice of Production Methods and Inputs c. Or - - a Sequence of Short-Run Cost Curves d. Increasing/Decreasing Cost Industries & LR Supply 3. Industry Structure and the Supply Curve: Competition to Monopoly 4. Highly Competitive Industries a. Characteristics b. Thinking like an Economist (Three Things at Once!) i. Market for Output ii. Market for Inputs iii. Firm Behavior 0. Dynamics! 2221‘, ' 0 MfimafaJ acco'A/fiza'fi‘on f A. flow-i /. CEO picks I Q" 2. PAn‘f/VMA or 7W“ 1% ' “Nova «7‘ Ana?" 6057‘ (Ito 6am bonus Arr n e} /fln*¢ W. “MT workbfs «is? Muffin-7:! for/Inf; Tack-cg A) Tag-0% Al’ovdco‘ by = 75" = Aloud by "who? ' 4. efc. ...
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This note was uploaded on 03/30/2008 for the course ECON 1110 taught by Professor Wissink during the Spring '06 term at Cornell University (Engineering School).

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econ101_14 - Econs. 101 Introductory Microeconomics ‘...

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