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Lecture 5: Competitive market and general equilibrium Advanced Micro Theory MSc.EnviNatResEcon. 1/2006 Charit Tingsabadh
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Chapter 8 Competitive Firms and Markets
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Figure 8.1 Residual Demand Curve
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Figure 8.2 Maximizing Profit
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Figure 8.3 How a Competitive Firm Maximizes Profit
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Page 240 Solved Problem 8.1
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Figure 8.4 The Short-Run Shutdown Decision
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Figure 8.5 How the Profit- Maximizing Quantity Varies with Price
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Figure 8.6 Effect of an Increase in the Cost of Materials on the Vegetable Oil Supply Curve
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Figure 8.7 Short-Run Market Supply with Five Identical Lime Firms
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Figure 8.8 Short-Run Market Supply with Two Different Lime Firms
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Figure 8.9 Short-Run Competitive Equilibrium in the Lime Market
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Figure 8.10 Short-Run Effect of a Specific Tax in the Lime Market
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Figure 8.11 The Short-Run and Long-Run Supply Curves
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Table 8.1 Entry and Exit Rates in Selected U.S. Industries,1972–1982
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Figure 8.12a Long-Run Firm and Market Supply with Identical Vegetable Oil Firms
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Figure 8.12 Long-Run Firm and Market Supply with Identical Vegetable Oil Firms
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Figure 8.12b Long-Run Firm and Market Supply with Identical Vegetable Oil Firms
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Application (Page 257) Upward- Sloping Long-Run Supply Curve for Cotton
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Figure 8.13 Long-Run Market Supply in an Increasing-Cost Market
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Figure 8.14 Long-Run Market Supply in a Decreasing-Cost Market
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Figure 8.15 The Short-Run and Long-Run Equilibria for Vegetable Oil
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Page 263 Solved Problem 8.3
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Figure 8.16 Rent
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Chapter 10 General Equilibrium and Economic Welfare
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Table 10.1 Adjustment in the Corn and Soybean Markets
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Figure 10.1 Relationship Between the Corn and Soybean Markets
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Figure 10.1a Relationship Between the Corn and Soybean Markets
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Figure 10.1b Relationship Between the Corn and Soybean Markets
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Figure 10.2 Minimum Wage with Incomplete Coverage
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Page 320 Solved Problem 10.1
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Figure 10.3 Endowments in an Edgeworth Box
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Figure 10.3a Endowments in an Edgeworth Box
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Figure 10.3b Endowments in an Edgeworth Box
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Figure 10.3c Endowments in an Edgeworth Box
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Figure 10.4 Contact Curve
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Figure 10.5 Competitive Equilibrium
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Figure 10.5a Competitive Equilibrium
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Figure 10.5b Competitive Equilibrium
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Figure 10.6 Comparative Advantage and Production Possibility Frontiers
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Figure 10.6a,b Comparative Advantage and Production Possibility Frontiers
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Figure 10.6c Comparative Advantage and Production Possibility Frontiers
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Page 332 Solved Problem 10.3
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Figure 10.7 Optimal Product Mix
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Figure 10.8 Competitive Equilibrium
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Application (Page 338–339) Wealth Distribution in the United States
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Application (Page 338 Detail) Wealth Distribution in the United States
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Application (Page 339 Detail) Wealth Distribution in the United States
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Figure 10.9 Welfare Maximization
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Figure 10.9a Welfare Maximization
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Figure 10.9b Welfare Maximization
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Table 10.2 Preferences over Allocations of Three People
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