Introduction What is import quota? An import quota is a limit on the quantity of a good that can be produced abroad and sold domestically. It is a type of protectionist trade…

Slide 1 Tutorial 4 Slide 2 Firms in competitive market Because a competitive firm is a price taker, its revenue is proportional to the amount of output it produces. The price…

Slide 1 © Pearson Education, 2005 Efficiency and Markets LUBS1940: Topic 3 Slide 2 Objectives © Pearson Education, 2005 After studying this topic, you will able to: …

Economics for CED Noémi Giszpenc Spring 2004 Lecture 4: Micro: Supply and Demand March 16, 2004 Economics for CED: Lecture 3, Noémi Giszpenc What’s demand again? Back…

EFFICIENCY AND EQUITY 5 CHAPTER Objectives After studying this chapter, you will able to Define efficiency Distinguish between value and price and define consumer surplus…

Economics for CED Noémi Giszpenc Spring 2004 Lecture 4: Micro: Supply and Demand March 16, 2004 Economics for CED: Lecture 3, Noémi Giszpenc What’s demand again? Back…