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July09

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Outline for Wed, July 9 Remember Quiz on Friday Homework due Monday Review from Tuesday Elasticity Monopoly pricing Taxes and subsidies
Review from Tuesday For complements, substitutes or inputs, it helps to draw two graphs
Review from Tuesday For complements, substitutes or inputs, it helps to draw two graphs To compute equilibrium: (1) Plug-in known values, (2) set QD = QS to solve for P, (3) plug back in for P
Review from Tuesday For complements, substitutes or inputs, it helps to draw two graphs To compute equilibrium: (1) Plug-in known values, (2) set QD = QS to solve for P, (3) plug back in for P Demand and supply functions How to graph them How to add them up How to interpret the signs +/- How to find the inverse
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July09

  • 1. Outline for Wed, July 9 Remember Quiz on Friday Homework due Monday Review from Tuesday Elasticity Monopoly pricing Taxes and subsidies
  • 2. Review from Tuesday For complements, substitutes or inputs, it helps to draw two graphs
  • 3. Review from Tuesday For complements, substitutes or inputs, it helps to draw two graphs To compute equilibrium: (1) Plug-in known values, (2) set QD = QS to solve for P, (3) plug back in for P
  • 4. Review from Tuesday For complements, substitutes or inputs, it helps to draw two graphs To compute equilibrium: (1) Plug-in known values, (2) set QD = QS to solve for P, (3) plug back in for P Demand and supply functions How to graph them How to add them up How to interpret the signs +/- How to find the inverse