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Microeconomics - ECO402 - VU Video Lectures

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Markets And Prices, Microeconomics Vs. Macroeconomics, Themes Of Microeconomics, Positive Versus Normative Economics.
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249 Views
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Factors Of Production, The Production Possibilities Frontier (Ppf), Scarcity And The Ppf, Shifting The Ppf Curve.
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247 Views
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The Supply Curve, Non-Price Determining Variables Of Supply, The Demand Curve, Non-Price , Real Versus Nominal Prices, Determining Variables Of Demand, The Market Mechanism.
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Changes In Market Equilibrium, Shifts In Supply And Demand, The Prices Of Eggs & Education Revisited, Price Of College Education, The Long-Run Behavior Of Natural Resource Prices, Factors Shifting Demand Curve, Factors Shifting Supply Curve, Elasticities Of Supply And Demand, Price Elasticity Of Demand, Interpreting Price Elasticity Of Demand Values, Price Elasticities Of Demand.
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Income Elasticity Of Demand, Cross Elasticity Of Demand, Price Elasticity Of Supply, The Market For Wheat, Short-Run Versus Long-Run Elasticities, Weather In Brazil And The Price Of Coffee In New York.
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Consumer Behavior, What Combination Of Goods Will Consumers Buy To Maximize Their Satisfaction?, Indifference Curves, Marginal Rate Of Substitution, Perfect Substitutes And Perfect Complements, Designing New Automobiles, How Can We Determine The Consumer’s Preference?.
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Utility, Utility Functions, Ordinal Versus Cardinal Utility, Ordinal Versus Cardinal Rankings, Budget Constraints, The Budget Line, The Effects Of Changes In Income And Prices, Consumer Choice, Designing New Automobiles (Ii), Decision Making & Public Policy, Corner Solution, A College Trust Fund.
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Revealed Preferences- Four Budget Lines.
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Marginal Utility And Consumer Choice, Diminishing Marginal Utility, Relationship Of Total And Marginal Utility, Marginal Utility And The Indifference Curve, Gasoline Rationing, Cost-Of-Living Indexes, Laspeyres Price Index, Calculating Raheela’s Laspeyres Cost Of Living Index, The Paasche Index, Comparing The Two Indexes.
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Individual And Market Demand, Effect Of A Price Change, Important Properties Of Demand Curves, Income Changes, Effects Of Income Changes, Normal Good Versus Inferior Good, Engel Curves, Substitutes And Complements.
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170 Views
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Income & Substitution Effects, The Giffen Good, Effect Of A Gasoline Tax With A Rebate, Market Demand Curves, Elasticity Of Demand, Point Elasticity Of Demand, Problems Using Point Elasticity, Arc Elasticity Of Demand.
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The Aggregate Demand For Wheat, Consumer Surplus, The Value Of Clean Air, Network Externalities, The Bandwagon Effect, The Snob Effect, Network Externalities And The Demands For Computers And Fax Machines.
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153 Views
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Choice Under Uncertanty, Describing Risk, Interpreting Probability, Investment In Drilling Exploration, Variability, Adjusting For Negative Numbers, Unequal Probability Of Outcomes, Decision Making.
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Choosing Among Risky Alternatives, Risk Averse, Risk Neutral, Risk Loving, Risk Premium, Indifference Curve, Business Executives And The Choice Of Risk.
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Reducing Risk, Diversification, Stock Market, The Decision To Insure, The Law Of Large Numbers, The Value Of Title Insurance When Buying A House, The Demand For Risky Assets, Risky & Riskless Assets, Expected Vs. Actual Returns, Risk And Budget Line.
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The Technology Of Production, Production Function, Isoquants, Production With Two Variable Inputs (L,K), The Short Run Vs Long Run, The Law Of Diminishing Marginal Returns, The Effect Of Technological Improvement, Labor Productivity And The Standard Of Living, Determinants Of Productivity, Trends In Productivity, Explanations For Productivity Growth Slowdown.
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Production With Two Variable Inputs, Diminishing Marginal Rate Of Substitution, Substituting Among Inputs, Marginal Rate Of Technical Substitution, Mrts And Marginal Productivity, Proportions Production Function, Increasing Returns To Scale, Constant Returns To Scale, Decreasing Returns To Scale, Returns To Scale In The Carpet Industry.
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Theory Of Costs, Accounting Cost Vs Economic Cost, Opportunity Cost, Fixed And Variable Costs, Cost In The Short Run, The Determinants Of Short-Run Cost.
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The User Cost Of Capital, The Isocost Line, Producing A Given Output At Minimum Cost, The Effect Of Effluent Fees On Firms’ Input Choices, The Cost-Minimizing Response To An Effluent Fee.
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Cost In The Long Run, A Firm’s Expansion Path, A Firm’s Long Run Total Cost Curve, Long-Run Versus Short-Run Cost Curves, The Inflexibility Of Short-Run Production, Long-Run Average Cost (Lac), Long-Run Average And Marginal Cost, Economies And Diseconomies Of Scale, Measuring Economies Of Scale, The Relationship Between Short-Run And Long-Run Cost.
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120 Views
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Production With Two Outputs, Product Transformation Curve, The Degree Of Economies Of Scope, Economies Of Scope In The Trucking Industry, Dynamic Changes In Costs, Economies Of Scale Versus Learning, Learning Curve.
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155 Views
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Perfectly Competitive Markets, Price Taking, Product Homogeneity, Free Entry And Exit, Marginal Cost & Profit Maximization, Profit Maximization In The Short Run, Negative Profit, Choosing Output In Short Run, A Competitive Firm Making A Positive Profit.
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A Competitive Firm Incurring Losses, The Short-Run Output Of An Aluminum Smelting Plant, Cost Considerations For Managers, Firm’s Response To An Input Price Change, The Short-Run Market Supply Curve.
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202 Views
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Equilibrium In Perfectly Competitive Markets, Elasticity Of Market Supply, Producer Surplus In The Short Run, Choosing Output In Long Run, Accounting Profit & Economic Profit.
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Long-Run Competitive Equilibrium, Economic Rent, The Industry’s Long-Run Supply Curve, Long-Run Supply In A Decreasing-Cost Industry.
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Profit Maximization And Competitive Supply, The Industry’s Long-Run Supply Curve, The Long-Run Supply Of Housing, Effect Of An Output Tax On A Competitive Firm’s Output, Consumer & Producer Surplus, Welfare Effects, The Efficiency Of A Competitive Market.
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The Analysis Of Competitive Markets, Welfare Loss If Price Is Held Above Market-Clearing Level, Effect Of Airline Regulation By The Civil Aeronautics Board.
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142 Views
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Price Supports, Price Supports And Production Quotas, Supply Restrictions, Supporting The Price Of Wheat, Import Quotas And Tariffs.
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173 Views
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The Sugar Quota, The Impact Of A Tax Or Subsidy, Incidence Of A Specific Tax, Impact Of Tax Depends On Elasticities Of Supply & Demand, Pass-Through Fraction.
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148 Views
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Market Structure And Competitive Strategy, Finding Marginal Revenue, Monopolist’s Output Decision, Maximizing Profit When Marginal Revenue Equals Marginal Cost.
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A Rule Of Thumb For Pricing, Monopoly Pricing Compared To Perfect Competition Pricing, A Monopolist’s Pricing, Shifts In Demand, The Effect Of A Tax, Effect Of Excise Tax On Monopolist.
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The Multiplant Firm, Measuring Monopoly Power, Lerner’s Index Of Monopoly Power, The Rule Of Thumb For Pricing, Elasticity Of Demand And Price Markup, Supermarkets To Designer Jeans, Do Convenience Stores Have Higher Profits Than Supermarkets?, Sources Of Monopoly Power.
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The Social Costs Of Monopoly Power, Rent Seeking, Price Regulation, Natural Monopoly, Regulation In Practice.
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108 Views
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Pricing With Market Power, Monopsony Power, The Deadweight Loss In Monopsony, Bilateral Monopoly, Limiting Market Power, The Antitrust Laws, Pricing With Market Power, Capturing Consumer Surplus, Price Discrimination, First Degree Price Discrimination, Additional Profit From Perfect First-Degree Price Discrimination, Why Would A Producer Have Difficulty In Achieving First-Degree Price Discrimination?, Second-Degree Price Discrimination.
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Pricing With Market Power, Third Degree Price Discrimination, No Sales To Smaller Market, The Economics Of Coupons And Rebates, Price Elasticities Of Demand For Users Versus Nonusers Of Coupons.
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166 Views
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Pricing With Market Power, Airline Fares, Intertemporal Price Discrimination And Peak-Load Pricing, Separating The Market With Time, Peak-Load Pricing, The Two-Part Tariff, Two-Part Tariff With A Single Consumer, Two-Part Tariff With Two Consumers, The Two-Part Tariff With Many Different Consumers, Two-Part Tariff With A Twist.
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Bundling, Conditions Necessary For Bundling, Leasing Movie X & Movie Y, Bundling Scenario, Reservation Prices, Consumption Decisions When Products Are Sold Separately, Consumption Decisions When Products Are Bundled.
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Types Of Bundling, Mixed Versus Pure Bundling, Mixed Vs. Pure Bundling Scenario, Mixed Bundling With Zero Marginal Costs, Bundling In Practice, Advertising, Effects Of Advertising, A Rule Of Thumb For Advertising.
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Monopolistic Competition, A Monopolistically Competitive Firm In The Short And Long Run, Monopolistically Competitive Vs. Perfectly Competitive Equilibrium, Monopolistic Competition And Economic Efficiency, Monopolistic Competition In The Market For Colas And Coffee.
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Oligopoly, Equilibrium In An Oligopolistic Market, Nash Equilibrium, The Cournot Model, Duopoly, The Reaction Curve, The Linear Demand Curve, An Example Of The Cournot Equilibrium, First Mover Advantage, The Stackelberg Model, Price Competition, Bertrand Model, Price Competition With Differentiated Products.
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Competition Versus Collusion, The Prisoners’ Dilemma, Payoff Matrix For Pricing Game, Oligipolistic Markets, Implications Of The Prisoners’ Dilemma For Oligipolistic Pricing, Observations Of Oligopoly Behavior, The Kinked Demand Curve, Price Signaling & Price Leadership, The Dominant Firm Model, Price Setting By A Dominant Firm, The Opec Oil Cartel, Cartels.
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Markets For Factor Inputs, Competitive Factor Markets, Demand For A Factor Input When Only One Input Is Variable, Measuring The Value Of A Worker’s Output, Marginal Revenue Product, Hiring By A Firm In The Labor Market (With Capital Fixed), Demand For A Factor Input When Only One Input Is Variable, A Shift In The Supply Of Labor, Comparing Input And Output Markets, Demand For A Factor Input When Several Inputs Are Variable, Firm’s Demand Curve For Labor.
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Industry Demand For Labor, The Demand For Jet Fuel, The Short And Long-Run, The Supply Of Inputs To A Firm, The Market Supply Of Inputs, The Supply Of Labor, Backward-Bending Supply Of Labor, Substitution And Income Effects Of A Wage Increase.
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159 Views
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Equilibrium In A Competitive Factor Market, Equilibrium In A Competitive Output Market, Equilibrium In A Monopolistic Output Market, Economic Rent, The Shortage Of Skilled Personnel, Factor Markets With Monopsony Power, Marginal And Average Expenditure, Factor Markets With Monopsony Power, Monopsony Power In The Market For Baseball Players.
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Factor Markets With Monopoly Power, Monopoly Power Of Sellers Of Labor, A Two-Sector Model Of Labor Employment, Wage Determination In Unionized & Nonunionized Sectors, Bilateral Monopoly.