Econ 101 Winter 2010 Lecture 9

Econ 101 Winter 2010 Lecture 9 - Click to edit Master...

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Unformatted text preview: Click to edit Master subtitle style Lecture 1 Economics 101 Microeconomics University of Michigan Winter 2010 Lecture 9 Lecture 1 22 Lecture 1 Announcements n Todays reading: n Chapter 4, p 102 117 n Office Hours: n Monday: 12 2 n Tuesday: 11 1 n Wednesday: 12 2 n Thursday: 11 2 n Or call (734) 358 1590 for an appointment n Problem set 5 available on CTools this afternoon n Exam 1: Monday, Feb 15, 8:00 10:00 pm n No Lecture that day n Review Sessions and extra pooled office hours will be posted on CTools Lecture 1 33 Lecture 1 Lost consumer surplus Agricultural Price Support Q Demand Supply P P* Q* Psupport Qd Qs Government purchase Deadweight Loss (if the govt purchase is distributed to the public) Deadweight Loss (if the govt purchase is not distributed to the public) Increased Producer Surplus Net effect on consumer and producer surplus Taxes Raised Lecture 1 44 Lecture 1 Price ceiling: Rent Control Rent control takes various forms n Simple case ceiling imposed on prices n To charge higher rents is illegal Rent control is supposed to be a benefit to renters n Is it? Lecture 1...
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This note was uploaded on 04/20/2010 for the course ECON 101 taught by Professor Gerson during the Winter '08 term at University of Michigan.

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Econ 101 Winter 2010 Lecture 9 - Click to edit Master...

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