PPT-ECON 100 Tutorial: Week

7 wwwlancasteracukpostgradmurphys4 smurphy5lancasteracuk Office LUMS C85 Question 1 There are no barriers to the entry of new firms into the market Firms in the industry produce differentiated products . www.lancaster.ac.uk/postgrad/murphys4/. s.murphy5@lancaster.ac.uk. office hours: 3:00PM to 4:45PM . tuesdays. LUMS C85. Question 1. Use AD-AS analysis to show how each of the events below will affect the equilibrium price level and real output in an economy in the short run when the aggregate supply curve . 17. Shane Murphy. s.murphy5@lancaster.ac.uk. Office Hours: Monday 3:00-4:00 – LUMS C85. Outline. Roll Call. Problems. Chapter . 26: . Problem 3. Your uncle repays a loan from a bank by writing a . cheque. Week 10. Ayesha Ali. www.lancaster.ac.uk/postgrad/alia10/econ102.html. a.ali11@lancaster.ac.uk. o. ffice hours: 8:00AM – 8:50AM . tuesdays. LUMS C85. Question 1 . H2OClean Ltd supplies domestic kitchen water filters to the retail market and hires workers to assemble the components. A water filter sells for £26, and H2OClean can buy the components for each filter for £1. Kevin and Sharon are two workers for H2OClean Ltd. Sharon can assemble 60 water filters per month, and Kevin can assemble 70. If the labour market is perfectly competitive, how much will each be paid? . Shane Murphy. s.murphy5@lancaster.ac.uk. Office Hours: Monday 3:00-4:00 – LUMS C86. Outline. Substitute Lecturer Next Week. Roll Call. Class Rep. Problems. Discussion. Class Rep. Exercise. Consider the following demand function: Q. www.lancaster.ac.uk/postgrad/murphys4/. s. .murphy5@lancaster.ac.uk. office: LUMS C85. Question 1. . Classify each of the following markets as highly contestable, moderately contestable, slightly contestable or non-contestable. If it depends on the circumstances, explain in what way.. www.lancaster.ac.uk/postgrad/murphys4/. s.murphy5@lancaster.ac.uk. office. : LUMS . C85. Keynesian Cross Diagram. Last week we calculated GDP using the expenditure method where . . GDP . = Aggregate Expenditure (AE) = C + I + G + . www.lancaster.ac.uk/postgrad/murphys4/. s.murphy5@lancaster.ac.uk. Office: LUMS . C85. Number of Workers. Total. Physical Product (units). Marginal Physical Product. Marginal Revenue Product. 0. 0. 1. www.lancaster.ac.uk/postgrad/murphys4/. s.murphy5@lancaster.ac.uk. office: LUMS . C85. Question 1. Match . each of the three . types of price discrimination . to the following definitions:. (a) When . Ayesha Ali. www.lancaster.ac.uk/postgrad/alia10/econ102.html. a.ali11@lancaster.ac.uk. o. ffice hours: 8:00AM – 8:50AM . tuesdays. LUMS C85. Today’s Outline. Planet Money Podcast – . Invention of the Economy. www.lancaster.ac.uk/postgrad/murphys4/. s.murphy5@lancaster.ac.uk. office. : LUMS . C85. Outline. Question 6 – 15 min.. Question 7 – 15 min. . Past Exam Multiple Choice questions - 15 min.. Suggested solutions for other questions will be included/added to slides so you can check your own answers.. 2. Why study bubbles?. “[An] issue that clearly needs more attention is the formation and propagation of asset price bubbles…I suspect that progress will require careful empirical research with attention . Shane Murphy. www.lancaster.ac.uk/postgrad/murphys4. How to Prepare for the Exam. Review your Tutorial Worksheets and Slides, Lecture Slides, The Specimen Exam, and Textbook chapters – that’s the order of importance. . www.lancaster.ac.uk/postgrad/murphys4/. s.murphy5. @lancaster.ac.uk. office . LUMS . C85. Moodle. Moodle: . https. ://modules.lancs.ac.uk. /. Coursepaper. , Tutorial worksheets, Lecture Recordings, General Announcements. Shane Murphy. www.lancaster.ac.uk/postgrad/murphys4. Today’s Outline. Exam Questions. Is there anything you’d like to go over regarding Friday’s Test?. In Week 17: You’ll have an exam recap with Kwok (in the lecture) and you get your marked exams back as well (in the tutorial)..