Lecture 10:
-The Invisible Hand
-Consumer/Producer/Total Surplus
-Deadweight Loss
Lecture 11:
-Budget Line
-Slope
-Calculate Marginal Utility
-Law of Diminishing Marginal Utility
-MR MC TC P Q table
Lecture 12:
-Long run ATC graph
-Economies/Diseconomies of Scale
-At which price should the firm shutdown (short run)
-When should firm exit the market (long run, variable cost)
-How many labor should a firm hire (Law of Diminishing Return)
Lecture 13:
-Market Structures (Monopoly, Oligopoly, etc…)
-HHI or CR4 (biggest 4 firms ratio) to decide the structure
-Welfare Loss to Monopoly Graph
Lecture 14:
-Country gains/losses from importing/trading
-World Price and Absolute/Comparative Advantage
Lecture 15 & 16:
-Price Discrimination to Maximize Profit
-Perfect Price Discrimination in Perfect Competition
-Antitrust Laws
-Interdependance in Economics
-Equilibirium
Lecture 17:
-Externalities
-Positive vs. Negative Externalities (and their graphs)
-Corrective Tax vs. Corrective Subsidy
-Tech Spellovers