LESON6A

LESON6A - Econ 275 - Public Finance - Fall 1992 - 9/17/92 -...

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Econ 275 - Public Finance - Fall 1992 - 9/17/92 - Lesson #6 - leson6a.275-- Page -- Outline: Admin: Workbook on reserve under either my name or the class number Announcement of John Lott's seminar: Take Flyer Read NYT statement on Bill Clinton's plan Ask about Gregg Tautkus and Oscar Meza for signing up with a group Indifference Curve analysis: MRS & MRT. Do Graphs from Ch 3 with output on the y axis. Efficiency. Ask people to ask questions about stuff in the book they don't understand. Indifference curve--page 69 in text do indifference curve between the consumption fo a good, C, and hours worked. Draw indifference curves. The slope of the indifference curve is refered to as the Marginal rate of substitution between labor and consumption. Tradeoff in consumption Add the production function page 70. hours worked produces some amount of the good. Slope refered to as Marginal rate of transformation. Efficiency requires the two to be equal.
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LESON6A - Econ 275 - Public Finance - Fall 1992 - 9/17/92 -...

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