Asymmetric Information, Insurance
buyer information - seller often knows more about good than buyer
Economics
Forum reference:
Book page:
http://course-notes.org/Economics
Capital Markets
stock vs flow -
- stock - instantaneous amount owned by a firm
- ie.
Labor Supply
choice of labor - dependent on utility of leisure and money
- leisure competes w/ income for utility
- wage rate measures price/value
Multiple Inputs
substition effect - comes into play
- could cause MPRL to shift more than for a single factor
- wage decrease >> mo
Single Factor Demand (Labor)
factor market - shows how much the firm demands units of labor (or other factor)
- combines utility, isoquants, and market
- marginal re
Competition vs Collusion
game theory - where firms make strategic decisions
- firms try to get the best possible outcome/payoff
- strategy - plan for going through the g
Monopolistic Price Competition
short-run vs long-run
- few firms in the beginning >> economic profits
- more firms enter in long run >> price = marginal cost
Oligopoly
small number of competitors - each has more than negligible effect on the market
- possible product differentiation, barrier to entry (patent, techno
Bundling, Advertising
bundling - combining 2 or more products in a sale to gain a pricing advantage
- sometimes customers want 1 product but not the other
- condition
Two-part Tariff
entry/usage - consumers charged both an entry fee and a usage fee
- ie.
Pages
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