Lecture+5+September+20

Lecture+5+September+20 - Todays agenda Market equilibrium...

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Today’s agenda Market equilibrium viewed algebraically Consumer surplus Producer surplus A first look at the case for market allocation
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TA office hour changes Ms. Xiangjin Shen 421 New Jersey Hall Wednesdays, 3:00 to 4:20 p.m. Mr. Cheng Gao 404 New Jersey Hall Thursdays, 3:00 to 4:20 p.m.
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Weekly Q&A/problem sessions Wednesdays, 4:30 to 5:50 p.m., Frelinghuysen A4 Thursdays, 4:30 to 5:50 p.m., Scott 202
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Aplia grace period ends at midnight tomorrow If you have not paid by then, you will be unable to see or submit homework you will lose access to the digital version of the textbook
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Aplia grace period ends at midnight tomorrow If you have not paid by then, you will be unable to see or submit homework you will lose access to the digital version of the textbook
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Computing equilibria Supply Demand P = 10 + 2 Q P = 75 - 3 Q
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Computing equilibria Supply Demand P = 10 + 2 Q P = 75 - 3 Q 75 - 3 Q = 10 + 2 Q
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Computing equilibria Supply Demand P = 10 + 2 Q P = 75 - 3 Q 75 - 3 Q = 10 + 2 Q 65 = 5 Q
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Computing equilibria Supply Demand P = 10 + 2 Q P = 75 - 3 Q 75 - 3 Q = 10 + 2 Q 65 = 5 Q 13 = Q
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Computing equilibria Supply Demand P = 10 + 2 Q P = 75 - 3 Q 75 - 3 Q = 10 + 2 Q 65 = 5 Q 13 = Q P = 10 + 2 (13)
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Computing equilibria Supply Demand P = 10 + 2 Q P = 75 - 3 Q 75 - 3 Q = 10 + 2 Q 65 = 5 Q 13 = Q P = 10 + 2 (13) P = 36
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This note was uploaded on 10/25/2011 for the course ECONOMICS 01:220:102 taught by Professor Prusa during the Fall '10 term at Rutgers.

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Lecture+5+September+20 - Todays agenda Market equilibrium...

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