1. EC1000 Microeconomics Tutor: Jarir Ajluni jnja1@le.ac.uk Tutorial Slideshows Semester one 2005

2. EC1000 Microeconomics Class 1 Week 3 PPF & Circular Flow

4. 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

5. EC1000 Microeconomics Class 2 Week 5 Supply & Demand

6. 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

7. 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

8. 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

9. 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 ?

10. 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

11. 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. 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`` ?

13. 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

14. EC1000 Microeconomics Class 3 Week 7 Costs of Taxation

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

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

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

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

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

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

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

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

23. 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

24. 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

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

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

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

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

29. EC1000 Microeconomics Class 4 week 9 Notes in Costing

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

31. 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)

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

33. 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.