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Reference: C& P, Ch 3, p69-73, Ch 4, p88-107. Frank, Jennings, and Bernanke,  pp. 258-74 This lecture we consider the choice of price by firms which must use linear pricing. We also review some fundamental concepts of welfare economics which…

Reference: Carlton and Perloff Ch 2, pp. 29-47 Frank, Jennings, and Bernanke, Chs 5&6 In this lecture we review how individual consumers’ and market marginal benefit (demand) is described the nature of the costs that firms face. In first year…