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Microeconomics Week 4 summary

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Microeconomics Week 4 summary including readings

Institution
Universiteit Van Amsterdam (UvA)
Course
Microeconomics








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Institution
Universiteit van Amsterdam (UvA)
Study
Economics And Business Administration
Course
Microeconomics
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Uploaded on
June 15, 2023
Number of pages
1
Written in
2019/2020
Type
Summary

Subjects

  • microeconomics
  • micro
  • week
  • ebe
  • economic
  • business
  • summary
  • notes
  • 4
  • uva

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Week 4:

Microeconomics summarize:
18/11

Market like in the training source of inefficiency:
- Deviation from competitive price
- Extramarginal units traded (too much trading).

Efficiency = (canvas)

MRTS is the slope of the isoquant.
Isoquant fix a quantity.
If q= L1/3 K1/3 so K1/3 = qL1/3 K=q3/L

If the Price consumption curve is in the form x= a; the demand for F is perfectly
inelastic with the respect to price.
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