Notes for Final

Notes for Final - graph the market and calculate surpluses...

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Notes for Final Topics Not Covered on the Final Exam Range of Trade Price Chapters on Externalities, Public Goods Income/Substitution Effect Shut-down/Exit Decisions – only exit/entry as it relates to long-run zero profits will appear on the exam Elasticity and relation to Total Revenue Financial Institutions (Markets vs Intermediary) Difference between foreign direct/portfolio investment Short Answer Problem I will give you two equations. You will need to solve for equilibrium price and quantity,
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Unformatted text preview: graph the market, and calculate surpluses. This basic problem will be modified in one of the following ways: Shift of Demand Shift of Supply Binding Price Ceiling Binding Price Floor Tax on Buyer Tax on Seller With this modification you will have to calculate the new equilibrium, surpluses and be able to graph the market with the change....
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