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Slide 11 Slide 2 2 Uncertainty Dixit: Optimization in Economic Theory (Chapter 9) Slide 3 3 1,2,3,….,m States of the world p 1, p 2,…..p m probabilities Y 1, Y 2,…..,Y…
Slide 1 Quasi-Continuous Decision States in the Leaky Competing Accumulator Model Jay McClelland Stanford University With Joel Lachter, Greg Corrado, and Jim Johnston as…
Slide 1 THE DISCOVERY OF PRODUCTION AND ITS TECHNOLOGY CHAPTER 8 Slide 2 DISCOVERING PRODUCTION Primitive society Fruit and land Accidental discovery: jam Opportunity cost…
Slide 1 Aggregate Demand A schedule or curve that shows the amounts of real output (GDP) at various price levels A schedule or curve that shows the amounts of real output…