StudyGuide - substitution effects 7. markets, exchange,...

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Final Exam Study Guide The Final Exam is comprehensive but with emphasis on material from the second part of the course. You should expect the Final Exam to look like to Homework — anything from any Homework assignment might be on the Final. Specific Topics 1. commodities of utility functions; independence of irrelevant alternatives; marginal rates of substitution 4. optimal choice; demand functions: calculation of demand function for given utility function (NOT limited to: Cobb-Douglas, CES, perfect complements) 5. demand curves, other demand curves, Engel curves 6. price changes, income & substitution effects; calculating income and
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Unformatted text preview: substitution effects 7. markets, exchange, equilibrium; calculating equilibrium 8. Edgeworth box: individually rational set, Pareto set, contract curve, equilibrium 9. time & uncertainty: interest rates, returns on investment 10. firms: production functions; marginal rates of transformation 11. cost minimization & profit maximization 12. industries: profit maximization, productive efficiency; which industries operate? 13. general equilibrium: social efficiency, trade; which industries operate? 14. non-competitive firms: market demand & inverse demand functions, monopoly, profit-maximizing...
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This note was uploaded on 02/13/2010 for the course ECON 180052110 taught by Professor Mcdevitt during the Summer '09 term at UCLA.

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