EC1000 Microeconomics Tutor: Jarir Ajluni Tutorial Slideshows Semester one 2005.

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Presentation transcript:

EC1000 Microeconomics Tutor: Jarir Ajluni Tutorial Slideshows Semester one 2005

EC1000 Microeconomics Class 1 Week 3 PPF & Circular Flow

EC1000 Microeconomics Class 1 week 3 Markets for Goods & Services Markets for Factors of Production Firms Sell and Households Buy Firms Buy and Households Sell HouseholdsFirms They Consume Goods & Own Factors of production Firms Produce Goods & Hire Factors of production Goods and Services Bought Spending Goods and Services Sold Revenue Labour & Capital Supplied Income Inputs of production needed Wages, Rents & Profits

EC1000 Microeconomics Class 2 Week 5 Supply & Demand

12.Oct.2004EC1000 Microeconomics Class 1 week 3 0 P Q S p Q S1S1 Supply and Quantity Supplied 0 P Q S p Qqq aba b Increase in Supply: Shift in the Supply curve Increase in Quantity Supplied: A move along the curve

12.Oct.2004EC1000 Microeconomics Class 1 week 3 0 P Q S D PePe QeQe S`` S` qaqa qbqb PaPa PbPb e a b Changes in Supply No Change in Demand

12.Oct.2004EC1000 Microeconomics Class 1 week 3 0 P Q S D D` PePe QeQe D`` qcqc qdqd PdPd PcPc e c d Changes in Demand No Change in Supply

12.Oct.2004EC1000 Microeconomics Class 1 week 3 0 P Q S D D` PePe QeQe S`` S` qfqf qgqg PhPh pgpg e Increase in Supply & Demand f h D`` qhqh g ?

12.Oct.2004EC1000 Microeconomics Class 1 week 3 Increase in Demand and a Decrease in Supply 0 P Q S D D` PePe QeQe P j k PiPi e D`` ? i S` j qfqf S`` k qkqk

12.Oct.2004EC1000 Microeconomics Class 1 week 3 PePe P n,m PLPL Increase in Supply & Decrease in Demand 0 P Q S D D` QeQe D`` S`` S` qmqm qnqn e L n m ?

12.Oct.2004EC1000 Microeconomics Class 1 week 3 Decrease in Supply & Demand PePe PqPq 0 P Q S D D` QeQe D`` qpqpq ep 0 P Q S D QeQe PoPo q S` O S`` ?

12.Oct.2004EC1000 Microeconomics Class 1 week 3 F.Y.I Price Rise if : Demand > Supply Increase in Demand > Increase in Supply Decrease in Demand < Decrease in Supply

EC1000 Microeconomics Class 3 Week 7 Costs of Taxation

12.Oct.2004EC1000 Microeconomics Class 1 week 3 0 P Q PePe QeQe D S e Consumer / Producer Surplus Consumer Surplus Producer Surplus

12.Oct.2004EC1000 Microeconomics Class 1 week 3 0 P Q PePe QeQe D S e Consumer / Producer Surplus

12.Oct.2004EC1000 Microeconomics Class 1 week 3 0 P Q PePe QeQe D S e Consumer / Producer Surplus

12.Oct.2004EC1000 Microeconomics Class 1 week 3 0 P Q PePe QeQe D S e Consumer / Producer Surplus

12.Oct.2004EC1000 Microeconomics Class 1 week 3 0 P Q PePe QeQe D S e Consumer / Producer Surplus

12.Oct.2004EC1000 Microeconomics Class 1 week 3 0 P Q PePe QeQe D S e Consumer / Producer Surplus

12.Oct.2004EC1000 Microeconomics Class 1 week 3 0 P Q PePe QeQe D S e Consumer / Producer Surplus

12.Oct.2004EC1000 Microeconomics Class 1 week 3 0 P Q PePe QeQe D S e Consumer / Producer Surplus

12.Oct.2004EC1000 Microeconomics Class 1 week 3 0 P Q PePe QeQe PaPa PbPb D S e b Tax & Deadweight Loss a Deadweight Loss Tax

12.Oct.2004EC1000 Microeconomics Class 1 week 3 0 P Q PePe QeQe PaPa PbPb D S e b Deadweight Loss: Elastic Supply & Demand a

12.Oct.2004EC1000 Microeconomics Class 1 week 3 0 P Q PePe QeQe D S e Deadweight Loss: Inelastic supply

12.Oct.2004EC1000 Microeconomics Class 1 week 3 0 P Q PePe QeQe D S e Deadweight Loss: Elastic supply

12.Oct.2004EC1000 Microeconomics Class 1 week 3 0 P Q PePe QeQe PaPa D S e Deadweight Loss: Inelastic Demand

12.Oct.2004EC1000 Microeconomics Class 1 week 3 0 P Q PePe QeQe PaPa D S e Deadweight Loss: Elastic Demand

EC1000 Microeconomics Class 4 week 9 Notes in Costing

12.Oct.2004EC1000 Microeconomics Class 1 week 3 £ Quantity of Output ATC QaQa MC AVC FC a Efficient Scale

12.Oct.2004EC1000 Microeconomics Class 1 week 3 P= C Quantity of Output Q max MC = Supply P = AR= MR a Competitive market (price taker firm)

12.Oct.2004EC1000 Microeconomics Class 1 week 3 Quantity of Output ATC Q max MC a D MR P= C PmPm Profit

12.Oct.2004EC1000 Microeconomics Class 1 week 3 F.Y.I MC > ATC : ATC is rising MC intercepts ATC at its lowest point. Diminishing Marginal Product causes MC to rise.

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