Micro 2 Notes for Final - Second Half of Semester

Description

CONTENTS 1. Production Continued a. Profit Maximisation b. Marginal Revenue c. SR supply curve 2. Perfect Competition 3. Cost Structures a. Constant b. Increasing c. Decreasing 4. Producer Surplus 5. General Equilibrium and efficiency a. General Equilibrium b. Efficiency - First Welfare Theorem c. Edgeworth Box - Second Welfare Theorem 6. Monopoly a. Monopoly set up b. Price Discrimination c. Price Regulation 7. Duopoly a. Cournot Model b. Bertrand Model c. Entry and Exit 8. Other a. Price Leadership Model b. Monopolistic Competition c. Monopsony 9. Asymmetric Information a. Moral Hazard b. Adv Selection c. Asymmetric information in competitive markets (Lemons)