ECN2802
Fall
2014
Dr.
Dao
Shift factors for supply
Shift factors for demand
Effects on price and quantity of shifts in demand and supply
Calculation of foreign exchange rate
Effect of increase in imports on the demand for foreign currency
Effect of price ceiling
Effect of minimum wage on employment
Examples of excise tax
Tariff
Effect of quantity restrictions on wage
Price elasticity of demand
Price elasticity of supply
Perfect Inelastic Supply
Perfect Inelastic Demand
Perfectly Elastic Demand
Slope and Elasticity along Straight-line demand curve
Factors influencing the elasticity of demand
Total revenue and price elasticity of demand
Income Elasticity of Demand
Utility Maximizing Rule
Conspicuous consumption
Assumption about taste for the theory of rational choice
Ultimate Game
Rational consumer
Marginal utility vs. Total utility
Relationship between marginal and total utility
Principle of Diminishing Marginal Utility
Focal point equilibria