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Unformatted text preview: • The law of demand and inflation (sec 3.1) • Elasticity of demand (sec 3.2) • Elastic vs. inelastic goods (sec 3.2) • Elasticity and total expenditure (sec 3.2) • Elasticity and monopolistic industries is NOT on the midterm • Elasticity of demand over time (called the second law of demand in the text ‐‐ sec 3.3) • Shipping the good apples out (sec 3.4) • Further applications of the law of demand (sec 3.5) Chapter 6 • Gains from specialization (sec 6.1) • Comparative advantage, marginal costs and production possibility frontiers (sec 6.2) • Comparative advantage and international trade (sec 6.2)...
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This note was uploaded on 02/06/2010 for the course ECONOMICS 200 taught by Professor Stiban,f during the Winter '10 term at University of Warsaw.
- Winter '10