10 - hw If theory doesn’t work here, it most likely...

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Econ 1 17:03 Demand schedule- how much demanded at every price Supply schedule- how much supplied at every price Equilibrium- a price at which demand equals supply Demand and supply schedule are theoretical constructs Constructing supply and demand schedule for experiment 1 Distribution of buyer values tells us how much demanded at every price Distribution of seller costs tells us how much is supplied and demanded How well does theory explain what happened in your section? You will find out in 
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Unformatted text preview: hw If theory doesn’t work here, it most likely won’t work in a more complicated environment. First HW: go to section web page and click select “experiment 1 data” Copy and paste data Data for tables 1.4-1.7 of Complete hw 1 for exp. 1 Do the hw in the book first cus it explains it Transfer answers to section web site for homework 1 17:03 17:03...
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This note was uploaded on 08/26/2011 for the course EARTH 20 taught by Professor Staff during the Spring '11 term at UCSB.

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10 - hw If theory doesn’t work here, it most likely...

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