PPT-16.1 General Equilibrium Analysis

162 Efficiency in Exchange 163 Equity and Efficiency 164 Efficiency in Production 165 The Gains from Free Trade 166 An OverviewThe Efficiency of Competitive Markets 167. MICROECONOMICS. Principles and Analysis. . Frank Cowell . Almost essential . A Simple Economy. Useful, but optional. Firm: Optimisation. Consumer Optimisatio. n. Prerequisites. July 2015. 1. Note: the detail in slides marked “ * ” can only be seen if you run the slideshow. Rôle. of Prices. MICROECONOMICS. Principles and Analysis. . Frank Cowell. Almost essential . General equilibrium: Basics. Useful, but optional. General Equilibrium: Price Taking. Prerequisites. July 2015. Chemistry 6/4/15. What kind of “shifts” did you see yesterday?. In the popular restaurant model, how could you “shift” the number of people in the restaurant?. HW. :. “Direction of shift” for each System completed. Dr. Ron Rusay. © Copyright 2003-2010 R.J. Rusay. Chemical Equilibrium. The reactions considered until now have had reactants react completely to form products. These reactions “went” only in one direction.. SCH4U1 . Chapter 7. Equilibrium [noun]. 1. a. :. a state of intellectual or emotional balance . :. . poise. <trying to recover his . equilibrium. > . b. :. a state of adjustment between opposing or divergent influences or . When carbon dioxide d_______ in water it forms carbonic acid. The more c______ dioxide the more a_______ the solution becomes . ie. . The pH d_________!. If distilled water (pH 7.0) is exposed to air the carbon dioxide from the air will form dilute carbonic acid (pH 5.5-6.0). A . reversible reaction . can be approached from either direction. In a . closed system. , no reactants or products can enter or escape. For equilibrium to be achieved, a reaction must be . reversible. SSEMI2c, 3b: . Explain. and illustrate the effects of price floors and ceilings. . The intersection of supply and demand. Equilibrium Price. Where Demand and Supply Meet. Equilibrium is the point where Demand and Supply cross. What’s . New here?. . Incomplete information: . Example: . Battle of the sexes . game,But. Bob . doesn’t know . what Alice wants . (i.e. her payoffs from possible outcomes). In previous examples we had “. The height of the top of the block (iceberg, continental crust) would be h. m. ’ + h. c. Response of the crust to a addition of a load (sediment accumulating or a large volcano): the crust “floats” downward to re-establish isostatic equilibrium and the elevation of the crust changes less that the thickness of the material added. . Lecture 8. How do deal with individual ions in aqueous solution?. We can’t simply add Na. . to a solution (positive ions would repel each other).. We can add . NaCl. . How do we partition thermodynamic parameters between Na. The Haber process proceeds as follows:. . 2NH. 3 (g). + 92KJ ↔ N. 2 (g). + 3H. 2 (g) . . If the equilibrium concentrations are:. [NH. 3. ] = 3.1x10. -2. M. [N. 2. ] = 8.5x10. -1. M. [H. 2. The Microeconomics of International Trade. ECN230. Roberto J. Garcia. School of Economics and Business, NMBU. Session 4. General equilibrium trade analysis II. Heckscher-Ohlin-Samuelson (H-O-S) model. The Microeconomics of International Trade. ECN230. Roberto J. Garcia. School of Economics and Business, NMBU. General equilibrium trade analysis I. Ricardian trade model. Model specification. Two countries: North and South.