AAedswop-dununsbung -enanqurcdtditihy i ue + No a ets emeumned fo{u ft » explain. ey ror cs Consumer Surplus = diane, Bh 4 WP s 15 Wie a. @ a ° 2s cee Coleulale Gat o)Eouitibrium Stoke b R= 43 Wen t 024 Pa2t-Qp An PEA gpy 2 ovat squilibrium stot P= 34 4Q5 = 93-00 > Q=1F > P=10 i» ze (8% @3-40).4% = 444s 2 Ave by P= dS> Pe = AO =? gurplus market 2a PE 2 oni C5 CEA ~ 98 e 0) Pe ACP e= 10 Bhortage mort eG Qs=A4 D>. Peni 2(20-44).20 — 90 i us Cee) aA dy Pet 2 Gp =20, Oc =44 Gov coves Ghortecy 4 Gr -Gs=20 5 (= 20.20 =200 2 Tdi dna buclget Hos EA Conawmers- Rosicossunnption + presences axe compl. + uv Arositive Corsumiis alwouy pyar more fo les o any qook. Eragnple bundle fdtollTdst Rlvtekd B a it CABOD) die fhe combinate @ 4 g of Lqoods , but que He e a 4h Stonturn scare vel F 3 3 OF Seah faction. Laat = FCal e ols, 4, Higher ondly uss one parenel (So lux a, ve curves den crocs 8 6 Heel Ug =U graph « Ue 2Uo f re cower are downward sloping, len. 4 aiqumes 160922: ae Us Pa i & Trereaw the quantity o X We ATU, = MUx . DX x, Xe th 2 MUk+ ae My 20 @ S4=_. fiw Decrease the quanhty o¥ | > DB). y¥=9 OH aa Dty= Uy. Oy rely cunve, equation, Stops 0 ely eusue As OTUx + STUy=0 Marginal Rodeo, Substitutions cM au - =Rate ok which o comuntss unllling to trod. A goad for Re =Negative value DY 2 MU MU MRE dedines ob Coe Boe fhe idl eadwe Cobsolute value) Ex: Ax: yeg- £3, Bac. MRce F-47090: eS = 2-05 cue boweel yword ie fo origin [rsqpdve « dirrunishing 2 estirems examples. + Gragld We indiy cusue » poycet cubstitile MRS is constort » Lthape indiff cue : poyeet complement : MRS doemt exut Ex. 4 aaa at | za taae (2) Comvider the whlchy MUy 2 2XY* ; Usey, HU 2X2 = — Me = N MRS = aMiers) mes eoyutraunt XP WP re t L= WOG) * Aca APs a) | Pxe d,Py-3, T=60 ey Comswnpiong X+Y in opbrntune 2 bP doubl contumgtirs ral, Kies cpsiruan @ Tneom doubles, @@$__—~ db Gaph ysw. ABU uly xrse6o > Le XY 4A O-K-SY) oli ss oo) Lx = AK ie vice haz cz (A) Meee xy 38 cone he fa @) to --3Y 0 aa dy=60 @) { a AN Ww, ae Moe © Geko X34 0H) tiie by Peo 2iPi= 8 > le GSE + NGO-2K- 3) »4 Uns renin -2aA=0 Hs att i) i 412 Uy = Ae yt? 3020 9 = ae 2 BO) 2k 0 60-24- oH sii Wo = 4Xo 4K -61=9 (4) 7) 4=d0 mT double S La kte Ne een = Xa3)) Wt Ue = tae? "= 020 Nees oe i a ae > X-Y-0 eal Hd 9. 69 © A =60 Uys $x 320 =e Ne ADp - K-3N=0 a 48y.- 420 ad Graph "i 2K431=60 budget ne dg ng00 gach le ‘ndiy, ewe - dg ban odo Ma aagecer AS 30 60 i Exeroas fl eonaume has vdilty puncien UeeXee Sh Uke Lagrangian fo dee the D urchins qpsds Xx Le XY = 2CD= XPx NPs) > max A oN eX ee ea Oe jee Sen 7 Kine ANE Py ieee TD - XPx —WPy=0 WD a :, T- 3Nf¥ 20 aR De Bi ppeot 1 ot Zee \X= Se Eyoumse waUlal Kee. Pee) D=400 Px=5;Py= do Usvrg Lagrange te detumune the censumehion (uel af Kx Y in eprinuns - Deve D function for qeods Xx Le 0°. 9% = A CAvo -SX -40¥) > maxI 4 TOS Of ei Une Ax YSU RE FORTE yy 0, a, OS Ee Lye 3 Kory S_ vas fre pie Vs Sika AD y= Azo SY AON = 400 2A Eypecks oy rncome. x price changesto-vindavidunl command ay Troe ade. changes_s Theos Comsumphim Cure otf" Tncoms -comsumplion cUAVe + i! ros = Te AS oli dhage in weome Ltodl 4 He shit oj Dewwe @uiing thu. hoe how ding) [wees Slopng - shit 4o ight « normal good m Downward sloping: shiyt to LAA « dyrion good "| 4 Curve. rea AlN oe oe Relode quantehy- erg Price changis Price - Consumption Curve Change wv _paica. hod toa movement along te D eave 2 Pace - conausrrp tion cwwe : Ye Locus 04 pours , consumers uly maxumnodin Aeaulting, whi only price changesDr Fre -connemgton N ‘, N ae 2 conan, ut > 3 pM ee te BLS BL2 B13 2wnague GLB Bes UA at pound Ex oO he eae. y ect & uncome yo = Change wy priee 9 0 goad has - jeer a uncorms ee Sustain _yect Re Range I p in pe Re age ee +The 2yeet: chan pudatng Ton eee anos ae change. wo +K ef ES Se ee Assuma Xx +YPy- 2 When Pr{decrease , Dx Py remain unche 2. Rea prin Xx 9 (Fe cbipe oy buclget Aina)» decreate. 4 ¢ + Real wneore / pirch ng power ( ) inorease. { (soa 6.2] Sunilandy 9 Touch: Ua Wy sam ubitdy = game purchasing (Graph?) Oe Drones Slope: Bla . agtow 8 BL: bere Ped @ BL > BB: es et (Graph 9) BLD B13] Same Sg pt ) same Aclodile price aeats bone eee Lf ee ae oXis mormall good (Graph 9) 9 Kis snouoc qood CGraply A\) | Avfotve priceGap A) 4 Pxb, QDs t Germ 79) evan wher Xu am unyesion gandl a Sex Leow mgaly © Xi Sein at Te 3 & Same Comments Ys dy Px > SE70 E depends oad M ¥ E70, TE > dawpuryd tong % « Rat D +) SE90, TE Yrould consume moe As fos 8 becoubela — 8 87 MMs 99 an: he 3 (Pt ophimunn pout : BL = Droit crm ) Shongo.o + Oe unk AW Asod rextlechue 2 u a4 D choroebenate 3 good, Destimalangs ore How dows Hus york - + Dont wo indiff eve th analyzing. umswuned hehaviowr } + Foo. om consumers (ingens 2 irl a veols fs one Pat te ee oF ques rou a RS, oily Siltaton + W eee quod apand all oe on te goccs + Welrcortoin price & Ie > choose 4 Comlainacdon 91 geod 4 Thwe wast Ax only 4 price Level « tne fer each choosen ae + Consumers efrsice vs conssburt %WA, Ray pone: GaN oe trod oe LTE . Px > Gat Salimeeccoame AQ x4 =) Oe! BR eza 3 m0SE, @=c) Ob & TE only veo * 4 Domand Ghoracouste “9 Consumo. byw 0.geodl er the chasacteriches /propendis bee y Thote characteristics , aot ths good tel , Acts. ui Gity Bamph . Gugar & Fronty — Characteristics » colors Awredness ajo tl gy Bs ambut of Ao hy “Sag BE On ine 06 BOF: sonnet a i We coulel pu ansre aysdcon dts rank but examine (2) only Pqoads ot once S demand estumnatuy yep oe Pies mae en aes ae aie 1 ake Steet 0) buy, Elouticndy fe cen demand E°p Soeeomeee an % © Depend on tro Aalkvotunre bejore x aytn fe chi -% Ascume thot Hu previous » current Ox Par th same D curveby By siobtioas ome ves! — Using ssqressiem meted witly avaulab& dasa —Tingortant stops + Salecting the earual vonobtes Sheet + Collecting data et +The Chooseng, D function Wes Ar advertising . oe fOr bys 2, HN EIA) Larsor, ero oh << seonimehies 3 Non Lnsor model Advantage Disoolvartoge. fe was | ya en Oy wove ses © Comune, Sunnie ~ fim -get comumers gerdbowk on the change th diluemunarts in 2) gunct, ~ Use queshoncires /diieed untervon . eae aan a ks ra * Comsumtr chinies . = Gre comuminns 8, cheove thon behaviour Uw the efop . =) Avlinbte © High cest p not objecting 5 emall campls dus do hgh cov * Markt Dial = 0o buol busuess we the rcol market tp sen if custome. bnuy the (4) Objective (real tudhock) © Gmpetiter’ uiterqoronce aig Gent 0) Opbion. Sunwey Mefred + une! indo : ot fo. u & Cons S opinions Savoy ae nie ear ye GGinph sway (9 ee change opinion lor our funder Efrat Gis tAx Expoxk opinion suave / i mebhod. us under Stence of a or @ Nowy pda ting Taek wate sie, gerutepton 4 at eee oO D for the et CRE att mata aces opinions of the expats (4) obyeetive = rune consuming (sudabl. for_Long hor forecuut) ¥ Collechie opinion cusven / Soles bree opinion Guiver, re ae “ie pany le Peet aces a sale ef. The Opinions Ded i ated te gue a, oe . more reliolte (© aypotsd by ambitious a shephe folis + Tat mnarkeling / Cordrollsd expesmentechor, rnethod roduct (oh the Re Re ee ie et © yell mathed as dtyamunes > axpenine eb celnaiee Pe De eee fer eee mae Sal ipluanediais products fecal as duct ee ee tela ea ae at wig tie aie dyed cosy ct an cos © Ao when 4 prea an ple prodizeing net bStatictieal Methods ¥, odor . Assume thot eet w» eye On alas deleumuants “pehagpacocat ct rs Arvosabts Seoson TUdbrormol ont) Tuendd Crxolamevemendd ert OE © ema ha 0QEhapten 2: Deowion umdoy rush vencertauntay eel + fahabiliey the bkelifiood tha wen orifeorne ull coca Pe Fru 9 ‘aes nuurdver rors ovdecome— Hoyo Decor suls Based on Exprotiol Uniti — Petal ckeuon wack mock. dapend on wnllingness to acesp tek “gt wit ral cd lle ma - Expecticl Ubility EU 2A a et assoc Gerth geek => eels ela aoe away thod moximecs > (horse He prject with fughest EU "dain. Auk prvose pc Seti Sec ra ar att 7 PS a (neem Sea ol rectid coneiear ss a Dk rarmes oe AS Pregera MSY ino Cexp: udility 8 40.S)40 Centaum une @ 90 (eapected uly i @) 2» Ruse Le ie oll tong 2 i oe yrds a sen > ie oh aly 1 aa a Pro bohill Rind expected run Gam ae tet aati Ons D gy Lach wnvae}- B00 od 63 ee the, vnvestmont BS, 08 o4 Satie $300 ot 0,3 Us er sus 0) EV Varian $0 ou=T* (CafetoteE) ASD WO 22,86 B 20 AMO 384B by Rak mecha = EUp = 4250 = ZPille EUs < 429) Chroose suther Aor 4) Wk. Giving © EUA= 63000 , Ells 64900 Chaoar B ohh awmes EUln= 35,32 , EUe= 39,25 Chaore A a Dwesttheahor - Bi4 AUlocatma pesourees t activins whaee odeomet arentt Salis of gange AC U1) Sabs of Bfankets,rmactiresses (2) Hot (p=05) 300 millicr INO) 400 Gd (p +05) Ab0. 360 The Auncvey db paky — depercling om wseodhin rf sell only Hert) > Roduce Usk bury by selling Avot (W)4 (2) > no aitky fusnover (combine thangs 40 sold) Coentoty duanaye) by. Brune — - Auk oxense peopl axe willing to buy AGOn +4 wm bohamowy ‘ee ‘Choon ene 4 AUS CSL . Busuess ae ia "4 ee (fg: te pahouls ) ® Fag at dumbad Anca, ce “erga oe st bene es ay a ~ Target: maxinnt2e a Toren MR = MC Gmditins (1) Ts =0 pai Tt'a) + Gmstant Achar to ceale Fh; AL) = wut Cobb 0) chon QL AK. LE whereall vnpuds tise, 2 Or= ACHE CHP = AvH*F K*LF 5 compare atP od e B>4 ynereasi rts amd AO = WALKS LC =) [ sibs castorate 4s Eyerette., oo) Qa Krab a +B<4: decwasing «6 AUK hL= Ake SAL | AOKI = fKt SAL = umttant pK thn = WM RL nOU) = RE Ee neta by RE, ‘athe, hy hh? 18 ROCK L) = hk ALE ceoren! 3 HL BUAKGAL) =h8 841M, ROCK) = KSC eras fue Arr Jan prnclictiisn , piupare Disneys prot ; usl 40 pact 204A Dok = Average Puyrcal Prodicet (APP) +APP oy coqutal — APP = Gy APPax obo pp. S —Masqpral Piyiol Rect CAP NPP) - +MPP of copttal MPPs RS_= Gh arth {ator MPR = Bo dab 7 Only ww chonge- rotads. K or! @. owt Oty xe of N ul Tea si > ie wh Tey E5.3. Theoptimal choite o wnput combanatusn C= touching / Ramage: poet. ALC, athe aope i oxacthy He some in wobre Qu IC, BK _ MPP. = —W ee ee Be MP Ss era o ho Nieee EL Mere OMPR = A= LE 7b MPPe= Oka Sie 4 0) NRTE= - Tp Beruse me ie y X= AO, we AS Who combuncdiony (KL) eee me athe cost 0, froduseing any quien ouput Optumurm gout A OL Le atl og Evens Q= “ JOOKL, r= suo soi = $20 /doy Tene Mammur ost 0 eilg Sant Ola cages Mopbmum = DD Ee AE Jn 4K eL Q =AKL = AMD0@ » AE dw K= (S 51-20 C-wL+rk= 80.240 + 420 BS = 3495 I sk, ohuony cow oe - Fixed ent ae yee “3 wnewastng, io Cheseantys va cer ek Ee Beary toa propation) f 4.2. Arenooe eos! ANC = ME U-Shape 7 jfc =TC_ ARC + ANC ATC = vanticall wm oy FFE & ANC AS. Monqural cost. C= Sie aTeg =(FO Ca = Vee ME vce RC u ANG. a BA oe Lawset pos setonpunveonts pa. VIC total cata, prducion when K xL variaspes fo = LNC= LACmin: Se 50 8 » Oy Te Teonopobistic Gempitition Wan hot ADE — Thany supplon. (oducts ow rslativedy dittorert — Characters ties len tiles aro (Need nary price é - + dounward &fo eh fc = muni i — oo Ce Ce ea ea ack ie =MRk cure dewnward oping, os cloubl P=LAIC. ice Produce at OF . Long aun squilibriuun & fal Qy = to mnunimine LATO { : foie 2 Q. => Difference = Bases eafneiny & G Rule, to choose P to Tmax P=LATC >LMC 1D) Compare PQ Ulangmn) PCM x MOM HPOM : Q* = Qs (eyoent ecole) “NOM: " LATC '=Or S +200 +400 © BY = 200 by At O* =200 , Pyprm = Panoned = LATC = 209 4290 + 4037 =340 Pomarkt= 4000 - Sengeesh © Qmokt= 45200 oH = Armosket _ O. = Cen 7. q Det 2. Sour -menopety pore. aris “Net aed MR= A Bab Ep, Ob x= py Seok) Pres) 3 eat ae » Avyay to find P* Twrasis M2 = MC P+ ee) Me haa. x veel Oe SAS Thm besa thw ore 2 P til kb (Re upiaye 2) ee Se SaDoI Ls, Geamarket Power > Wang Lomir Tndsx ps ceo. Pe PU) Moxumire prog MP = Mek => Pt, ay ~ bo umpores o dump cum tox Ton te prot Ter -1C +T > MCr = (tn Te ATa’= Tea =Me, Be oe rey qe-ctean oR Ie bet) do ry Mouumae profits at MP = MCT = MC =Dst: charging diyywent Oto olyprent usrine for tre some CxS = Fim. enhance TT by.ediacing additional sunplus for the consumes =Requissrrartk + Derenwond Afeping D wurve = Fin must have markt power +Be ab& fo ctf diyeurd customer duprent Plouel ay Fast degree / Poryerk Prree Discrumurcdiony by Send degre / Block freing OThvd degree /Prite Disowminotion dy Tntvitenporor Paice Deseriminatiny 2 Leosoming / Peak Lood Pricing 4) Two Rot Preing ee i Q gp bundling OP ere hae) AY yng P oy Fast degree /Pryet Price Disoununadion a Thy pom con orract all CS — os RS ~ Dek : Yharging custome fe NS SSeS Dek: Charan (apch Sasoraee ig, coe aes a ths. (chee Q equrenate | ew is rt tastrno yom redaling high fea ~ Exosnpls. : Dertors supply service fo = Same Symptom = rt eee Te ee dey 236) Send digees PG Dporimuations / BIGCK Phong = Det: Diyowrt prices por unit for cymerd quality oy Aho, name qcod “Tho more Q bought, thse cheaper He Pik” ~Ex: Toxt vate., block ppurchase vs Acteril — Requirement: Frum hos teasing adurn to geale NOx ATC downularol Anping, Block Rica G/L poate Lees GraGe 94 fa Fe) compenung with @7ts 34 4d (Siearaon > = Bs Pducumunaton > gain more Genii Q the prducur prodiac. Third =deqree price discunwnation ee oar Pa cade with, Seperate D cunte poms ae eee ~ Ex . Thelostic custom pay ME thot glostic custrnen Aun ee (Shuclerdss aon shaders) ,oarplane Acket Crowelers ys business ° on men) in or mar 4a ND; a ‘ a Oy Exorcine: passmongnea Sree gil ae OQ = 90-26 Mere 35-2 se t 2 er Siete oni std in gc market 1 Ovecll evel qt Uf the gon by Hodes, ths naw of quaston O dypr Uf fhe grunv charges Ainglt P Aniswer0) Tn gach market, at equibbuun ; MB =MCi> 40-2048 > im 46 > Prat fx NR MC 25-02 =%9 Ar=1t — h=465 S : <0 o5] Px <40 =I, 245 eR a ee a sie > Drkunked af P= 25 Dr )Qa=40-P Pas =t oe eae 2B (16) Dp [dr= 04 Wand @ ysst Qa =40-P__ |) 5 Qr =90-3P( At Ae some, eee + > Or Gaza al p= 9-Gr ~ 50- SF MRr, = 40-90 (0. 15) del) The frm mommee profit ot MR=MC al 230-72 (@>45) \steep 40 - 20= =8 (Q< 19) 4 >= = 46 Cnvaled) | 30-28-28 (0745) | Qy=33 | To divide the adput , the aub is MR = MR: = MRr= MC AD- 204-8 > G1=46 Bh 284 > TRa= 384 |>m-tens 25-Qr=f © Ga-1¥ > Pr=AbS STR2=2280.5 + TC= AdO +20= 400 +8 Oa + Qs) = 364 Maturd degree = 300.5 hy Mar = MC» " =330-45) > Pt3o-Ar 249 aTR= 614 TC =Ado + QQ = AtD+ %33 =364 Ay Trtkemppral price duxoumunadion, eS oe as vally dyprucd D#inictony nie dlyperd-quoups bye + Groupa - a eg Dom. who value the product highly + Grovp2 = ee a Pe ee wallingte gorqr the sce ah = ( Oss Charan bila Fauve ate fn Pasi when capacchy eendte— 34 (prrea6s |a 5 pe NM 0 $) Two peurt pric a Dek. Comumuins are d hotly -ordiy & 6 Se ar ae Ge comands 4 Fyerotse »f) rienopcly 6 =40-P Te = 20. Compare a 7 2 Gingh. 0: P= W-Q9 MR= 40-98 je = 2 VRS pang Tmax) MReMCe 245 P.6 Wah =46- 4216 9 Lpart prvi « DeMC =P 10-8-2 0-8 5 T=CS_ ge 32 a) Bundbiag = dof Selling 7-2 prodlucts as a pockoqe (AU trowel packoge) - Coleqorios + Pure bundling : selling productronty ox package + Nixed bundling walling prochicls bath os 0 pockagy. or drdividually bn Tying es poe purchase 1q00d wn orden to purchoce another Eq, Punto Pri ink 7 Gilde package wth bloclee + razor arta —Choro.cterisic. pe ne et eh > jon in o “game” & ermpetitors ook ax + Firms are elokve inthe market+ Entry born is relatively high. ery moe) LOLiqe poly whun-trmesdont acollude - Squ Sea Te modal u m0: kod OD > ~ Huy agsumplon - fung compste inipriving ~ Goch firm boheves that. + Rave wort renotth P iperenses @ (Don wre abt O* (Tron), P*; Qe before) [P PA Gol abet (allow CO Pape a orl Elastic ithe) Pris A (Follow (2) =Tnesastic ene ME fist shoe, bby the fe bank te he dae a pi einerainan $0 op chap in Me Eymraine : quieny medal . Deo) AIC - 5+ 0.050 a) moxmrung Pe 6 bee Uae a cl at Bae a. is fa (8248 (@sW)o (> 20) = ) id MRcune wv vhiel MC con vodhout bea te ernie Ee ye vg “a R= 50-28 20) Qs Mae ah , Ps NC= 5404070 {MR=30-Gq (BSa0) 10-20 oA 2 MC pucuales Lt the songe (0,40) bp Coumot Wodsh . P= omit, beh ao vegas on oad at ea eae PSA arte ic Q Q “ene ees a the Gd Finks ttsCournot oquiibriuan ws rascal ee soit, pat kl Example Suppose o Linea P yunchon for the ondusiny product P=400-@ Dine jbo have conetant Mew ATC. AIC= Me 10 Using (aural sate ee anak, gods frm& W-mauumuing O x Or =G4 +e Ths Tl funchon of find Th = TR 10 = (Aow- Gr) Qs -40G1 = 400~ Gr-G2 964 —1004= -Gi*-Grle +9004 Reachors quncten for) 1 THQ) =0 = -20 -@2 0 =45- G2 amoxe TAG) =-0 > 204+ 90 -G2 0. GH = 4S a (Re To = 900) - Gi O42. Th wont Th! (02) 019 2 = 45 G4 (Reochion junc tor fron?) Caumot aquitioruum vn the, footat 2 unknown hn leet liso 4g - G2 64 Qe Py _ 400 (01402) = 40; O1-Gi¥02 = 40 > Wel2= 900 © Hockabhong TMredlal. Dek. ARymn Gals ve cutput bolore other firm do Erorngl Suppose &-bnuar D funchion fer the vrdutry product P= 400-@ Dems, boi have oonstertt ATC MC: AIC MC = 16 Finn Ses nt yout, finn? then mols output decsion sping 4omt's Ube inl i an a fala i audpr of fom | 6r- 4G ' “ha [function oy qm 4 tomo. — dornunouet T= Q0G4- Gi? 8.6 a - etlowen qoury «Th = 90 & -Ga? -0)0s- ue {S*-erdon condition for T- maxungahin of fam 2 Chtlower) 2-45-40 Trust Qo wtp He Te-Runction of frm) Tz 9OBI O17 0445-3) = ASB FQ Assume thod G4 &a MG (Q<40) ee (Q<40) MCP + Mt (072) IMer= 40 +050. (87 40) OD: Pegso-@ » MR =650-28 by The rms moxumie TT at MA = MC ie =6D-2 (AK Bra 133 , Qr= 128 by Price Loadynatup. “12 flo era got deuona on phil arenes ay FeO ee ae ett Ryne) a A group of dens that oct oss Ptokers in a mkt dommnatsd by cette F? PRL ne ad icc oe Eysrone ‘D; P= 400-8 , SF=MCr=P=404Q | NCre 3 +458. Fird Temoxumang Px ot latter ee ey Oe ear Qe =40-3P > p- soa P2405 Q= P-40 9° Yunksd pont Pau0 ;@=90 p Dr- sr G7020<%), \p 55 - — (0<90) Di-Dr (Qy90) oll 400-6 (0790) _ eh 55-QL (0< 90) ,Tonanvnas of MRL =o, See Mi= 460-20. (0740) / -2.= 3445029 > P=5b- Se = HHG 5 Or =P- 10 = 346 2 ees. {GS ote Gre 400-P= 554 5 OT=O+Oe> earreetTo ttabuur Market J Yupply of Yabour . Mats eas eae recta wy cota sda fo uae oe The i aedaen doping WY. woge ALE) quantity of labour AD Delerminanirotlokour-upply = ware tals —lworking hour < 4% opium working hows, vosiouk ee deBackwanaibending: Seccuue (spent cans) Pua + J unc, thetore paheceareted need wins dt ioesahes hen wage a | 1th, hae of wae augplae f felts more ne ae ee ae FF a Demand ton Ga.bour WANE: The 6 of L that Boenilare ll Oa Pree be ee pee i various wage, el wy as ie D P fort, & io downg ens ow 4 ws dowd Wo a ea De oudpul » oy ee Ddarnunark ot D for L 4 sea D jor w corviens OF The fay 2.eDiowxve - cones Honing prot labour MPL Tre aditonat ign roufhngtiom, the soleil uated by He we Q Ly wl SIR , BR. 20. HAL = Fe Re dans Robodurrstup bw MRP & DL: MRA eoneide OL24: Optimal Awung: choice. \ : ( WAP norte Nee % W, : Mowe the nurrher of labour 1 ply for wer RPL = W > optimal Jwung choice, no need change 1 Labour Market aaa Oh Z St =0L [ee ee ur + Thal Trout Gest of lolmur Lid We wi Cat which labourer ore © able to veork (mot we) (Ais the. buypr as momeptony power) a ket > w* LE pay MC yor goods...