Microeconomics

Here are a few notes on key microeconomic topics and tools.

Compensating Variation
Consumer Surplus
Demand, Willingness to Pay and Marginal Benefits
Effect of a Subsidy
Maximizing Output
Monopoly Behavior
Pareto Efficiency
Present Value
Probability and Expected Value
Producer Surplus
Supply and Willingness to Accept
Using Data to Determine Parameters

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Peter J Wilcoxen, The Maxwell School, Syracuse University
Revised 01/23/2006