▪ Content: • Definitions • Properties of cost function • WACM • Some forms of cost functions
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– Some definition – Isoprofit curve – Demand function and it’s properties – supply function and it’s properties – Profit function and it’s properties
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《高级微观经济学Advanced Microeconomics》PPT课件:lecture1 production theory I
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• Lotteries and expected utility • Risk aversion • Metric • Subjective probability theory
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《高级微观经济学Advanced Microeconomics》PPT课件:Lecture 15 public goods and externality
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• The “core” • Uniqueness of equilibrium • Stability of equilibrium • Welfare
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• Pure exchange system • The existence of Walrasian equilibrium • The first theorem of welfare economics • The second theorem of welfare economics • Exchange with production
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• WA and demand law • From preferences to utility • Utility maximization • Expenditure minimization
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– Consumer’s surplus – Aggregation – Representation consumer
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– Integrability – Aggregation across goods
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