econ101_16 - Econs. 101 Introductory Microeconomics Lecture...

Info iconThis preview shows pages 1–9. Sign up to view the full content.

View Full Document Right Arrow Icon
Background image of page 1

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

View Full DocumentRight Arrow Icon
Background image of page 2
Background image of page 3

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

View Full DocumentRight Arrow Icon
Background image of page 4
Background image of page 5

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

View Full DocumentRight Arrow Icon
Background image of page 6
Background image of page 7

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

View Full DocumentRight Arrow Icon
Background image of page 8
Background image of page 9
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Econs. 101 Introductory Microeconomics Lecture # 16 March 12, 2008 1. International Trade (Once Again) a. Incentives in a Competitive World - 1) Gains From Trade 2) Using Supply & Demand for Analysis 3) Winners & Losers b. Government Intervention to Protect the Losers 1) Tariffs & Quotas 2) But, Are World Markets Competitive? 2.Mon0poly (One Supplier) a. Profits Persist: Entry Deterred b. Source of Market Power 1.) Lock on Essential Input 2.) Decreasing Costs 3.) Government-Sanctioned c. Monopolist’s Behavior 1.) MR=MC, but Seen Differently! 2.) Consequences for Society 02¢ * W _ wacfifive Mrkcf IVA“ fire (are we.“ fwns 7‘0 \ \\ ' "Co at (4” Y WM? ; A sale are: ’5 7‘0 dfiz‘afifl‘al . [Vi/th. ' a Z; Decreasin' ’ [5575 ‘?%:;w.flz"“f"7> b; flrfi'fia‘fr'cm of Fan/ad C. afgyfiz ((2 71“; do Autumnal [€3.5ch 7’73”) ...
View Full Document

Page1 / 9

econ101_16 - Econs. 101 Introductory Microeconomics Lecture...

This preview shows document pages 1 - 9. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online